18 please help me with graph $30 a week boost to minimum wageThe government has increased the minimum wage by $30 a week to$570 a week. Unions wanted a $35 a week increase, but employersargued that that level of increase was unaffordable and would sendsmaller firms to the wall.Source: ABC Australia, February 11, 2On a graph of the market for low-skilled labor, show the effect of the $30a week increase in the minimum wage on employment of low-skilledlabor.The graph shows the market for low-skilled labor.The y-axis label is Wage rate (dollars per week)label is Workers per weekde 10Draw a point on the market supply curve and label it S.Draw a point on the market demand curve and label it D.Draw a point to show the wage rate and workers employed if theminimum wage is set at:1) $540 a week. Label the point 1.2) $570 a week. Label the point 2.t6OllSelected:ynone&7O70*and the x-axis8*O9C590-580-570-560-550-540-530-520-510-980Y%990N Delete Clear ?O1000>>> Draw only the objects specified in the question.рX10101020+4NextQSUSba

The minimum wage is the amount of minimum remuneration that an employer has to pay its employee.…

$30 a week boost to minimum wage The government has increased the minimum wage by $30 a week to $570 a week. Unions wanted a $35 a week increase, but employers argued that that level of increase was unaffordable and would send smaller firms to the wall.

$30 a week boost to minimum wage The government has increased the minimum wage by $30 a week to $570 a week. Unions wanted a $35 a week increase, but employers argued that that level of increase was unaffordable and would send smaller firms to the wall.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter6: Supply, Demand And Government Policies

Section: Chapter Questions

Problem 8PA

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Question

18 please help me with graph

$30 a week boost to minimum wage
The government has increased the minimum wage by $30 a week to
$570 a week. Unions wanted a $35 a week increase, but employers
argued that that level of increase was unaffordable and would send
smaller firms to the wall.
Source: ABC Australia, February 11, 2
On a graph of the market for low-skilled labor, show the effect of the $30
a week increase in the minimum wage on employment of low-skilled
labor.
The graph shows the market for low-skilled labor.
The y-axis label is Wage rate (dollars per week)
label is Workers per week
de 10
Draw a point on the market supply curve and label it S.
Draw a point on the market demand curve and label it D.
Draw a point to show the wage rate and workers employed if the
minimum wage is set at:
1) $540 a week. Label the point 1.
2) $570 a week. Label the point 2.
t
6
Oll
Selected:
y
none
&
7
O
70
*
and the x-axis
8
*
O
9
C
590-
580-
570-
560-
550-
540-
530-
520-
510-
980
Y
%
990
N Delete Clear ?
O
1000
>>> Draw only the objects specified in the question.
р
X
1010
1020
+
4
Next
Q
SUS
ba

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$30 a week boost to minimum wage The government increased the minimum wage by $30 a week to $570 a week. Unions wanted a $35 a week increase, but employers argued that a $35 a week increase was unaffordable. Source: ABC Australia, February 11, 2011 The graph shows a market for low-skilled labor. If the minimum wage is set at $570 a week, If the minimum wage is set at $540 a week, O A. everyone who wants a job has one; firms cannot hire all the labor they want OB. firms cannot hire all the labor they want; everyone who wants a job has one OC. everyone who wants a job has one; some people who want a job can't get one OD. some people who want a job can't get one; everyone who wants a job has one M 590- 580- 570- 560- 550- 540- 530- 520- 510- 9.8 Wage rate (dollars per week) D S 9.9 10 10.1 10.2 Quantity (millions of hours per year) O J Next
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