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Card and Kreuger's 1994 case study of the effects of New Jersey's 1992 minimum wage hike showed, paradoxically, that employment in the state's fast-food restaurants

Card and Kreuger's 1994 case study of the effects of New Jersey's 1992 minimum wage hike showed, paradoxically, that employment in the state's fast-food restaurants increased rather than decreased. Explain why this is consistent with fast-food restaurants being monopsonists in the labor market.

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