At the minimum wage (set above the equilibrium wage),

a. all individuals who end up working are paid less than if they were paid the equilibrium wage.

b. none of the workers will lose there jobs or find themselves working fewer hours.

c. none of the individuals who end up working are paid more than if they were paid the equilibrium wage.

d. there will be fewer people working (or fewer labor hours demanded) than at the equilibrium wage.

e. none of the above

Question

Macy Hobbs

13 June, 07:52

+3

Answers (1)

Know the Answer?

Jayvion Sutton · Answer 1

C. None of the individuals who end up working are paid more than if the were paid the equilibrium wage.