"The Department of Employment and Labour's National Minimum Wage Commission is recommending an above-inflation hike to the NMW for 2023, which could see the rate for domestic workers jump to R25.05 an hour." Assume that initially the market for domestic workers is at equilibrium at point A on demand curve D₂ in the Figure. If the new minimum wage rate is enforced above point A... Price per CD O A. there will be an excess of labour. O B. there will be a shortage of labour. O C. the demand curve will shift to D3 O D. the demand curve will shift to D1 C D3 D₂ D₁ Quantity

"The Department of Employment and Labour's National Minimum Wage Commission is recommending an above-inflation hike to the NMW for 2023, which could see the rate for domestic workers jump to R25.05 an hour." Assume that initially the market for domestic workers is at equilibrium at point A on demand curve D₂ in the Figure. If the new minimum wage rate is enforced above point A... Price per CD O A. there will be an excess of labour. O B. there will be a shortage of labour. O C. the demand curve will shift to D3 O D. the demand curve will shift to D1 C D3 D₂ D₁ Quantity

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 46P: A government passes a family-friendly law that no companies can have evening, nighttime, or weekend...

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