Suppose the Current Equilibrium Wage Rate for Housekeepers Is $8

question 198

Multiple Choice

Suppose the current equilibrium wage rate for housekeepers is $8.60 per hour.An increase in the minimum wage to $7.50 per hour leads to

• A) a surplus of housekeepers.
• B) a shortage of housekeepers.
• C) no change in the market for housekeepers.
• D) an increase in the quantity of housekeepers supplied.
• E) unemployment of housekeepers.

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