2 As explained in Chapter 6, a minimum-wage law distorts the market for low-wage labour. To reduce...
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2 As explained in Chapter 6, a minimum-wage law distorts the market for low-wage labour.
To reduce this distortion, in Australia the minimum wage for teenage workers is lower than the national minimum wage for adult workers. Give two reasons a single minimum wage might distort the labour market for teenage workers more than it would the market for adult workers.
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Principles Of Microeconomics
ISBN: 125206
8th Edition
Authors: Joshua Gans, Stephen King, Martin Byford, N Gregory Mankiw
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