A minimum wage set above the equilibrium wage will create a shortage of labour .a O have no effect because the equilibrium level of employment is not affected by a minimum wage above the b O equilibrium wage will create a surplus of labour .c O .create a lower wage rate for skilled workers than for unskilled workers .d O
A minimum wage set above the equilibrium wage will create a shortage of labour .a O have no effect because the equilibrium level of employment is not affected by a minimum wage above the b O equilibrium wage will create a surplus of labour .c O .create a lower wage rate for skilled workers than for unskilled workers .d O
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![A minimum wage set above the equilibrium wage will
create a shortage of labour
.a O
have no effect because the equilibrium level of employment is not affected by a minimum wage above the .b O
equilibrium wage
will create a surplus of labour .c O
.create a lower wage rate for skilled workers than for unskilled workers .d O](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa6a5fe1e-ae6a-49bb-828c-18091b7c0aab%2F2f7fca45-732a-4551-82c0-cac3c254563f%2Fd4cm1i3_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A minimum wage set above the equilibrium wage will
create a shortage of labour
.a O
have no effect because the equilibrium level of employment is not affected by a minimum wage above the .b O
equilibrium wage
will create a surplus of labour .c O
.create a lower wage rate for skilled workers than for unskilled workers .d O
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