Use the blue point (circle symbol) to indicate the quantity of labor demanded, and use the orange point (square symbol) to indicate the quantity of labor supplied in this case. ? Supply Demand Initial Labor Demanded Initial Labor Supplied Minimum Wage New Labor Demanded New Labor Supplied Quantity of Labor Suppose there is an increase in the minimum wage. On the previous graph, shift the black line labeled "Minimum Wage" to show the effect this has on the wage paid to workers. Then use the green point (triangle symbol) to indicate the new quantity of labor demanded, and use the purple point (diamond symbol) to indicate the new quantity of labor supplied given this increase in the minimum wage. True or False: The amount of unemployment in this industry falls as a result of the increase in the minimum wage. O True O False Wage Minimum Wage +
