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Select the correct location on the graph. Choose the point on the graph that shows excess supply of labor. Labor Supply $18 Minimum Wage Wages $12 Equilibrium Wage Labor Demand 1 1 18 33 45 Number of workers​

Select the correct location on the graph Choose the point on the graph that shows excess supply of labor Labor Supply 18 Minimum Wage Wages 12 Equilibrium Wage class=

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Answer:

the access supply of labor at minimum wage is the difference between the labor that is demanded at minimum wage which would be 18 and the labor supply at minimum wage which is 45. So 45-18=27, 27 is the excess supply of labor there is at minimum wage.

Explanation:

Parrain

The point on the line that shows excess supply of labor is the pink box that the Minimum wage line runs across.

Why does this point show excess labor?

Excess labor is any point that is above the equilibrium point of $12 for labor wages.

The pink box above the equilibrium point shows excess labor because at this point, 45 workers are being supplied when the equilibrium needed is 33 workers.

Find out more on equilibrium quantity at https://brainly.com/question/6672674.

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