If the Minimum Wage Exceeds the Equilibrium Wage,then

question 3

Multiple Choice

If the minimum wage exceeds the equilibrium wage,then

• A)the quantity demanded of labor will exceed the quantity supplied.
• B)the quantity supplied of labor will exceed the quantity demanded.
• C)the minimum wage will not be binding.
• D)there will be no unemployment.

---

Definitions:

Regulators

Authorities or agencies responsible for overseeing and enforcing compliance with laws, rules, or regulations in various fields.

Sustainability

The ability to maintain or improve certain processes or states indefinitely, often referring to environmental, economic, and social well-being.

Environmental Activists

Individuals or groups who actively promote the protection of the environment and advocate for policies or practices that minimize harm to natural ecosystems.

Tragedy Of The Commons

A situation in which individuals act in their own interest and deplete shared resources, leading to long-term collective loss.