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Question: q5 q9 are related to the labour market in...

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Q5 - Q9 are related to the labour market in Australia. The following graph represents this labour market, where the vertical axis is the wage per hour and the horizontal axis is the number of workers employed (in millions).

Circle one form yellow

The Australian government is considering a new proposal to increase the minimum wage to $30 per hour.

The newly proposed minimum wage is a  (binding, non-binding) price floor. The market wage under the newly proposed minimum wage will be equal to ($19.84, $25, $30) per-hour and the number of workers employed in the Australian labour market will be equal to(8, 12, 15) million

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