(Solved): solve both plz Question 3 (1 point) Use Figure: The Minimum Wage. By how much does the quantity of l ...

Question 3 (1 point) Use Figure: The Minimum Wage. By how much does the quantity of labor supplied rise when the government imposes a binding minimum wage \( Q_{4}-Q_{2} \) \( Q_{3}-Q_{2} \) \( Q_{4}-Q_{1} \) \( Q_{2}-Q_{1} \) Refer to Figure 11-1. If the money supply is MS2 and the value of money is 2 , how much is the excess demand or supply? There is an excess demand equal to the distance between \( A \) and \( C \). There is an excess supply equal to the distance between \( A \) and \( B \). There is an excess demand equal to the distance between \( \mathrm{A} \) and \( \mathrm{B} \). There is an excess supply equal to the distance between \( \mathrm{A} \) and \( \mathrm{C} \).