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The governor of Michigan is hoping to increase the federal minimum wage to 10.50 per hour. Use a diagram illustrate the effect this would have
The governor of Michigan is hoping to increase the federal minimum wage to 10.50 per hour. Use a diagram illustrate the effect this would have on unskilled labor(the horizontal axis is Labor Unskilled), if
a) the demand for labor is nearly vertical
b)the demand for labor is very elastic
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