Answer:
A. 9 million
B. 0
Explanation:
A. The quantity demanded is 29 million, and the quantity supplied is 38 million.
Therefore:
38million- 29million= 9 million
Meaning 9 million low-skill laborers will be unemployed when the minimum wage is $8/hr.
B. 0
$6/hr is below the market-equilibrium wage of $7/hr, it therefore has no effect meaning no low skill laborers will be unemployed when the minimum wage is $6/hr
