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Low-skilled workers operate in a competitive market. The labor supply is LS = 10W, where W = the labor hourly wage (the price) and the
Low-skilled workers operate in a competitive market. The labor supply is LS = 10W, where W = the labor hourly wage (the price) and the demand for labor is LD = 240 - 20W, where L measures the quantity of labor hired. What is the size of the producer surplus (that is, welfare going to the low-skilled workers or "suppliers") in this labor market as a result of a $9 minimum wage
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How China Escaped Shock Therapy The Market Reform Debate
Authors: Isabella M Weber
1st Edition
0429953968, 9780429953965
