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jared8mp jared8mp
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A year ago
If the equilibrium wage in a competitive labour market is $14 per hour, and the government raises the minimum wage from $11 to $12 per hour, what will be the effect in this market?

▸ Unemployment will decrease.

▸ The average wage paid to workers will increase.

▸ The level of employment will decrease.

▸ Unemployment will increase.

▸ There will be no effect on employment.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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mouallemjmouallemj
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A year ago
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jared8mp Author
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Smart ... Thanks!
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