ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 4, Problem 7.15P
To determine
The effect of minimum wage on the unskilled labor market.
Concepts Introduced Wage Floor - It is the minimum wage or wage bracket established by law. It is the floor below which the prices are not allowed to fall in an industry or sector.
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