Could you explain the attached question giving detailed explanation as to why each answer is incorrect
Unemployed workers who last searched for jobs less than 2 weeks ago mUnemployed workers who last searched for jobs between 3 and 4 weeks ago “Unemployed workers who last searched for jobs between 5 and IS weeks ago m Workers who are on a temporary layoff waiting to be recalled, not searchingfor jobs Labor Force Partieilation Rate Tab le-S 1. Table-5: The economy in a country is characterized by the table above.Notice that there is equilibrium unemployment, and assume that this iscaused by a minimum wage. Everyone in the economy is paid the samewage. What is the minimum wage in this economy? A $6.01}! hr. e $3.31Ihr. c £3.6llfhr.W 2. Table-5: What is one set of possible supply and demand curves thatwould generate the unemployment and employment in this economy? A w; 3000 – 350w, La= 150w e m= 2mm – 41.5w, Ls= 300w – 20c La=1ouo – 53.33w, Ls= lﬂﬂw + so o None ofthe above.