8 Wage ( 6 Equilibrium After Law E 5 8 9 10 Quantity of Labor (Thousands) A-Z Suppose employees place a value on this benefit exactly equal to its cost. A+ On the preceding graph, use the purple line (diamond symbol) to show the effect this employer mandate has on t Suppose the wage is free to balance supply and demand. Use the black point (plus symbol) to indicate the equilibrium wage and level of employment before this law, and indicate the equilibrium wage and level of employment after this law is implemented. ? True or False: Employers and employees are made worse off by this law. True . False Suppose that, before the mandate, the wage in this market was $3 above the minimum wage. In this case, the wage rate with the employer mandate will be $7 per hour, which will lead to a decrease a decrease in the level of unemployment. Now suppose that workers do not value the mandated benefit at all. Which of the following statements are true under this circumstance? Check all that apply. Employers are worse off than before the mandated benefit. Employees are better off than before the mandated benefit. The wage rate will decline by more than $4. The supply curve of labor doesn't shift at all. The equilibrium quantity of labor will decline