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21-04-2018
Business

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Suppose the equilibrium wage in the market for food service workers is $11 per hour. the government then establishes a minimum wage at $9 per hour. what will be the effect of the minimum wage on the market for labor in the food service industry?

Respuesta :

21-04-2018

There will be no effect, since the market equilibrium wage that equates the amount of labor supplied with the amount of labor demanded is above the minimum wage.

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