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Lauren1 Lauren1
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Posts: 4120
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9 years ago
The minimum wage in 2008 was $6.55 cents until July 2008 when it was raised to $7.25. If the minimum wage in June was below the equilibrium wage and the increased wage in July was above the equilibrium wage, then
A) firms' producer surplus was greater in June than in July.
B) unemployment was unaffected by the increase.
C) the deadweight loss was greater in June than in July.
D) employment of low-skilled workers increased in July.
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MrDerecheMrDereche
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#1
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9 years ago
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Lauren1 Author
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#2
9 years ago
Thank you, this really, really helps Heavy Heart
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#3
9 years ago
You're welcome!
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