Question: can someone explain step by step? - 9. Figure: Price Floors Wages Supply $20 A D B 14 H E 8 Demand 0 5,000 8,000

can someone explain step by step?

- 9. Figure: Price Floors Wages Supply $20 A D B 14 H E 8 Demand 0 5,000 8,000 12,000 Q of Labor 11,000 Suppose the town of Drippling Springs enacts a wage floor of $20. What will be the effect of this wage floor? a. There will be a shortage of 7,000 workers. b. There will be a surplus of 7,000 workers. c. There will be a shortage of 4,000 workers. d. The wage floor will have no effect on the market

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