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Suppose that workers succeed in raising a minimum wage from HK$ 28 to HK$33 if the current equilibrium wage is HK$28. At the same time,
Suppose that workers succeed in raising a minimum wage from HK$ 28 to HK$33 if the current equilibrium wage is HK$28. At the same time, the Shenzhen government approved the non-permanent residents can apply for a multiple-entry visa to the Hong Kong Tourism. What will happen to the number of workers employed when compared to the original equilibrium? Explain your answer with the supply-and-demand diagram.
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