l. .J Under a binding minimum wage (i.e., above the equilibrium wage): the number of workers who want to work will be greater than the number ofjobs available. the equilibrium wage will increase. there will be a job for everyone who is willing to work. business owners will hire more workers. Question 6 1 pts Consider a market that is initially in equilibrium and the equilibrium price and quantity are P and Q respectively. Then. the government decides to impose a price ceiling at a price of Pc that is less than P. Which of the following statements is correct? After the price ceiling is imposed, the quantity demanded is less than the quantity supplied on the market. After the price ceiling is imposed, the quantity actually sold in the market is lower than it was before the price ceiling was imposed. Producer surplus in the market increased after the price ceiling was imposed. Since Pc is less than P, the price ceiling is effective and therefore, there is no deadweight loss in the market