The diagram illustrates the effect on the labour market of introducing a national minimum wage (MW). What do the distances XY and YZ show?
- AYZ: existing workers made redundant; XY: increase in employed workers
- BYZ: unemployed new entrants; XY: existing workers made redundant
- CYZ: increase in employed workers; XY: existing workers made redundant
- DYZ: existing workers made redundant; XY: unemployed new entrants