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LABOR (No. of WORKERS MINIMUM WAGE IS NO BINDING WAGES (8P/4) PRICE FLOOR MINIMUM WAGES 80 40 120 160 200 240 280 320 360 400The given question seems to be incomplete, but still i have found its exact solution by observing the diagram minutely, which that-----

* The demand and supply forces of labor intersect each other at point E,

* At this point , the equilibrium wage rate is determined at 10$ p which equilibrium demand & supply of labor is 200 workers.

* Now, the govt implements minimum wages Act ,as per which $4 per hour will be given to workers as per law

* We observe at minimum wage rate , the demand for labor is 500 workers ,with supply of labor .

* As the minimum wage is below the equilibrium wage , this price floor is not binding.

* It would be binding ,if the minimum wages were imposed above the equilibrium wage rate.

Hope , my this explanation will help you to understand your problem.

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