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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