Do you think that a price floor such as a minimum wage will result in a surplus of labor and hence unemployment?

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Business

Daniella Wagner

29 May, 18:08

Do you think that a price floor such as a minimum wage will result in a surplus of labor and hence unemployment?

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Demarcus Chang · Answer 1

when the price floor of minimum wage is increased, there will be lot of people to work for the current wages. now there will be a surplus of workers and less work compared to the workers. this will led to unemployment once again.