What Will a Minimum Wage Do

question 224

Multiple Choice

What will a minimum wage do

• A)It will alter both the quantity demanded and quantity supplied of labour.
• B)It will affect only the quantity of labour firms will demand at the higher wage, but does not affect the quantity supplied of labour.
• C)It will have no effect on the quantity demanded or quantity supplied of labour since the equilibrium wage will not change.
• D)It will cause only temporary unemployment, since the market will adjust and eliminate the surplus of workers.

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