Economics (AS & A Level) · May / June 2023 · Paper 31 · Question 14
9708Labour market forces and government intervention
The diagram illustrates a monopsony labour market in which the government has imposed a minimum wage. What is the difference between the wage the monopsonist wishes to pay and the wage received by labour?
- AW1W3
- BW1W2
- CW2W3
- DW2W4
As printed in the paper
Show the answer
Correct answer: B. W1W2
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