A-LevelEconomicsThe price system and the microeconomy9708/33 · May/June 2017 · Q171 Mark
The diagram shows the supply and demand for labour in an industry. [Diagram]
- (a)The diagram shows the supply and demand for labour in an industry. [Diagram] Initially the industry's labour market is in equilibrium. What effect will the introduction of a minimum wage OW have on the level of employment in the industry? A It will decrease by LM. B It will decrease by LN. C It will increase by LN. D It will increase by MN.[1]
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Mark scheme
Marking points from the official mark scheme (May/June 2017). The mark or mark type is shown in brackets.
- [1] Answer: A
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