At the Minimum Wage (Set Above the Equilibrium Wage)

question 20

Multiple Choice

At the minimum wage (set above the equilibrium wage) ,

• A) all individuals who end up working are paid less than if they were paid the equilibrium wage.
• B) none of the workers will lose there jobs or find themselves working fewer hours.
• C) none of the individuals who end up working are paid more than if they were paid the equilibrium wage.
• D) there will be fewer people working (or fewer labor hours demanded)than at the equilibrium wage.
• E) none of the above