Total wage bill = total revenue of all workers in this market. Suppose a binding minimum wage

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Total wage bill = total revenue of all workers in this market. Suppose a binding minimum wage is introduced in this labour market. What will be the effect on a total wage bill?

wages in Unskilled labour market $s/hr S ofL W* D for L QL* QL in worker-hours/periodWage in $/hr SL DL L in workers/hr

Posted Date: Jul 03, 2024 03:10 PM

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Total wage bill = total revenue of all workers in this market. Suppose a binding minimum wage

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