Wage (dollars per hour) Minimum wage W₂₁ 0 L2 L1 L3 Supply of workers Demand for workers Quantity (number of workers) According to this graph the existence of a minimum wage in the market for low-skilled workers results in a:

Wage (dollars per hour) Minimum wage W₂₁ 0 L2 L1 L3 Supply of workers Demand for workers Quantity (number of workers) According to this graph the existence of a minimum wage in the market for low-skilled workers results in a:

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter30: The Labor Market

Section: Chapter Questions

Problem 3E

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Question

Wage (dollars per hour) Minimum wage W₁ 0 L2 L1 L3 Supply of workers Demand for workers Quantity (number of workers) According to this graph the existence of a minimum wage in the market for low-skilled workers results in a:

Wage
(dollars
per
hour)
Minimum
wage
W₂₁
0
L2 L1 L3
Supply of
workers
Demand for
workers
Quantity
(number
of workers)
According to this graph the existence of a minimum wage in
the market for low-skilled workers results in a:

L2 L1 L3
Supply of
workers
Demand for
workers
Quantity
(number
of workers)
oh the existence of a minimum wage in
illed workers results in a:
ANSWER
OOOO
shortage of workers
surplus of workers
scarcity of workers
I DON'T KNOW YET
submit
0

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