b. Suppose that the disequilibrium unemployment caused by the minimum wage gives rise to more intense effort
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b. Suppose that the disequilibrium unemployment caused by the minimum wage gives rise to more intense effort on the part of workers to find employment. Can you illustrate in your graph the equilibrium cost of the additional effort workers expend in securing employment?
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Related Book For
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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