Question
Many economists are against the minimum wage law. Show GRAPHICALLY why a legal minimum wage set ABOVE equilibrium may lead to unemployment. How does the
Many economists are against the minimum wage law. Show GRAPHICALLY why a legal minimum wage set ABOVE equilibrium may lead to unemployment.How does the elasticity of demand help to determine the extent of this unemployment? Can people who earn low wages be helped in ways that will not lead to unemployment?
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Economics Principles and Policy
Authors: William J. Baumol, Alan S. Blinder
12th edition
978-0538453677, 538453672, 978-0538453622, 538453621, 978-0538453653
