A binding minimum wage established by the government

A)

is a price floor that will create a surplus of workers if the labour market is competitive.

B)

will have no effect on the quantity of labour employed.

C)

will be effective only if the minimum wage is set below the free-market equilibrium wage.

D)

is essentially a price ceiling that creates a shortage of workers.

E)

will affect adversely only those workers whose value of productivity is greater than this minimum wage.