On a graph of the market for low-skilled labor, show the effect of the $26 a week
Question:
On a graph of the market for low-skilled labor, show the effect of the $26 a week increase in the minimum wage on employment of low-skilled labor.
The government has increased the minimum wage by $26 a week to $569.90 a week. Unions wanted a $27 a week increase, but employers argued that that level of increase was unaffordable and would send smaller firms to the wall.
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The graph below illustrates the effect of the increase in minimum wage on the employment of lowsk...View the full answer
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