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Posts: 65
2 weeks ago

Question 1.

Many economists estimate that for every 10% increase in relative minimum wage rates, there is a corresponding decrease in employment of those affected equal to

• 1-2%.

• 5-10%.

• 10-20%.

• 30-40%.

Question 2.

For a given market demand curve, if the market clearing price increases, then the amount of producer surplus will

• become negative.

• increase.

• decrease.

• none of the above due to insufficient information.
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
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Answer verified by a subject expert
wrote...
Posts: 53
2 weeks ago
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Answer 1

1-2%.

Answer 2

increase.
1
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