What would happen to the quantities employed

Reference no: EM131297724

In the United States in 2002, 130,000 aircraft mechanics and service technicians earned an average of $20 an hour whereas 30,000 elevator installers and repairers earned an average of $25 an hour. The skill and training for these two jobs are very similar.

Suppose that a government law required both groups of workers to be paid $22.50 an hour. Draw a graph to illustrate what would happen to the quantities employed of the two types of labor.

Reference no: EM131297724

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