Question
if consider the demand and supply of labour in the sugar industry. If there is a minimum wage in this industry (above the equilibrium wage/price),
if consider the demand and supply of labour in the sugar industry. If there is a minimum wage in this industry (above the equilibrium wage/price), then the effect of removing this minimum wage would be to
a. decrease the equilibrium price(wage) and remove the shortage of labour
b. decrease the equilibrium price(wage) and remove surplus of labour
c. increase the equilibrium price(wage) and increase the quantity of labour demanded.
d. increase the equilibrium price(wage) and cause a shortage of labour
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International Economics
Authors: Thomas A. Pugel
15th edition
73523178, 978-0077769529, 007776952X, 978-0073523170
