Table 43 Table 43 Shows the Demand and Supply Schedules for the Labour

Table 4.3
$\begin{array}{|c|c|c|}\hline \begin{array}{c}\text { Hourly Wage } \\\text { (dollars) }\end{array} & \begin{array}{c}\text { Quantity of } \\\text { Labour } \\\text { Supplied }\end{array} & \begin{array}{c}\text { Quantity of } \\\text { Labour } \\\text { Demanded }\end{array} \\\hline \$ 7.50 & 530,000 & 650,000 \\\hline 8.50 & 550,000 & 630,000 \\\hline 9.50 & 570,000 & 610,000 \\\hline 10.50 & 590,000 & 590,000 \\\hline 11.50 & 610,000 & 570,000 \\\hline 12.50 & 630,000 & 550,000 \\\hline\end{array}$
Table 4.3 shows the demand and supply schedules for the labour market in the city of Oshawa.
-Refer to Table 4.3.If a minimum wage of $9.50 an hour is mandated, what is the quantity of labour demanded?

A) 40,000
B) 570,000
C) 610,000
D) 1,180,000

Correct Answer:

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