Supply and Demand Schedules

Hourly Wage

$($dollars$)$ Quantity of Labor Supplied Quantity of Labor Demanded

$$15\mathrm{.}00350,000390,000$

$16\mathrm{.}50360,000380,000$

$17\mathrm{.}00370,000370,000$

$18\mathrm{.}00380,000360,000$

$19\mathrm{.}00390,000350,000$

$20\mathrm{.}00400,000340,000$

The table above shows the supply and demand schedules for workers in Largo.

If a minimum wage of $$18\mathrm{.}00$ is mandated there will be a

Group of answer choices

shortage of $10,000$ units of labor.

surplus of $10,000$ units of labor.

surplus of $20,000$ units of labor.

shortage of $20,000$ units of labor.