Title: FIGURE 14-5Refer to Figure 14-5. If this labour market is perfectly competitive, an increase in the ...
Post by: Infinitez on Oct 9, 2022
FIGURE 14-5
Refer to Figure 14-5. If this labour market is perfectly competitive, an increase in the legislated minimum wage from W2 to W3 would
▸ create unemployment in other minimum wage sectors.
▸ increase employment from what would have initially occurred.
▸ increase employment in this labour market but decrease it in other labour markets.
▸ create unemployment where there previously was none.
▸ have no effect on employment.
Title: FIGURE 14-5Refer to Figure 14-5. If this labour market is perfectly competitive, an increase in the ...
Post by: jay2013 on Oct 9, 2022
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