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vlademirsimon vlademirsimon
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A year ago
Consider a competitive labour market. The likely consequence of a binding minimum wage in this labour market is

▸ a higher wage for all individuals.

▸ a labour shortage.

▸ excess demand for workers.

▸ unemployment.

▸ a lower wage for all individuals.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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armywahinearmywahine
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A year ago
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