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Suppose that policymakers in the country of Borduria decide to set a new minimum wage for retail wokers of $20/hour. Currently, the prevailing wage in
Suppose that policymakers in the country of Borduria decide to set a new minimum wage for retail wokers of $20/hour. Currently, the prevailing wage in the retail sector in Borduria is 18$/hour. The retail sector is perfectly competitive. What should you expect the impact of this reform to be on the total number of hours worked by retail workers in the country? a. The number of hours should stay unchanged. b. The number of hours should increase. c. The number of hours should decrease. d. Not enough information
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