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In the short run, how would a sharp increase in minimum wage affect the labor market? Responses It would cause an increase in the demand

In the short run, how would a sharp increase in minimum wage affect the labor market? Responses It would cause an increase in the demand for labor. It would cause an increase in the demand for labor. The labor market would not be affected but the price of the products would be. The labor market would not be affected but the price of the products would be. It would decrease the demand for labor. It would decrease

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