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Suppose the minimum wage is above the equilibrium wage in the market for unskilled labor. Using a supply-and-demand diagram of...Asked by ann
Suppose the minimum wage is above the equilibrium wage in the market for unskilled labour. Using a demand and supply diagram of the market for unskilled labour, show the market wage, the number of workers who are employed, and the number of workers who are unemployed. Also show the total wage to unskilled workers.
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