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1 November, 02:22

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?

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  1. 1 November, 06:12
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    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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