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Suppose the Elasticity of Labor Demand Is Less Than 1

question 120

Multiple Choice

Suppose the elasticity of labor demand is less than 1 in absolute value. Imposing a minimum wage above the equilibrium wage will:


Definitions:

Group Home

A special home where people with disorders or disabilities live and are taught self-help, living, and working skills.

Community Mental Health Center

A treatment facility that provides medication, psychotherapy, and emergency care to patients and coordinates treatment in the community.

Mental Hospital

A healthcare facility specializing in the treatment and care of patients with mental health disorders.

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