Suppose the Elasticity of Labor Demand Is Less Than 1

question 59

Multiple Choice

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

• A)increase the incomes of all current workers.
• B)result in no unemployment.
• C)increase the size of the firms' total wage bill.
• D)make few workers better off.

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