Which of the following statements is true? a. At the minimum wage, the quantity of labor supplied
Question:
Which of the following statements is true?
a. At the minimum wage, the quantity of labor supplied grows because more people are willing to work at a higher wage.
b. At the minimum wage, the quantity of labor demanded falls because some employers would find it unprofitable to hire low-skilled workers at the higher wage.
c. Both at the minimum wage, the quantity of labor supplied grows because more people are willing to work at a higher wage and at the minimum wage, the quantity of labor demanded falls because some employers would find it unprofitable to hire low-skilled workers at the higher wage are true.
d. None of these is true.
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c Both at the minimum wage the quantity of labor supplied ...View the full answer
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