​Figure 52

question 37

Multiple Choice

​Figure 5.2. The figure shows the supply and demand curves of a firm.
-Which of the following is the purpose of a minimum wage?​

• A)​To reduce the wage rates of high-income workers
• B)​To keep a track of the changes in the wage rate in an unskilled labor market
• C)​To deal with the problem of unemployment in the market
• D)​To help increase the profits earned by the producers
• E)​To raise the wage rate for the lowest income workers