In a Competitive Labor Market,a Minimum Wage Law Set Above

question 94

Multiple Choice

In a competitive labor market,a minimum wage law set above the equilibrium wage rate

• A) creates a shortage of labor.
• B) causes equality between the quantity of labor supplied and the quantity demanded.
• C) creates a surplus of labor.
• D) lowers the wage rate paid to workers.
• E) has no impact.

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