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In the module 2 game day (baking virtual cookies), the second round included a $15 minimum wage for all workers. This tended to have the
In the module 2 game day (baking virtual cookies), the second round included a $15 minimum wage for all workers. This tended to have the effect of leading to higher unemployment (fewer people were working) and higher compensation for those who still had jobs. F. A. Hayek might be opposed to a law establishing a $15 minimum wage because: Group of answer choices it is a form of economic central planning: the government is determining the price of labor instead of allowing the market to determine its value. it is a form of free-market capitalism: a $15 minimum wage leads to the most efficient outcome, but equality is more important than efficiency. it is a form of equalizing difference: some people prefer working less and having more leisure. it is a form of market-based pricing: the government signals the value of labor by setting its price
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