O-LevelEconomicsThe allocation of resources2281/12 · May/June 2021 · Q111 Mark

The diagram shows a market for labour. X is the original equilibrium. A trade union negotiates a minimum wage at W, and the government restricts the supply of immigrant labour. What is the new equilibrium? [Figure 11]

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✓ Correct answer

B: B

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2021 Paper 1 Variant 2, question 11.

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