"The Department of Employment and Labour's National Minimum Wage Commission is recommending an above-inflation hike to the NMW for 2023, which could see the rate for domestic workers jump to R25.05 an hour." Assume that initially the market for domestic workers is at equilibrium at point A on demand curve D₂ in the Figure. If the new minimum wage rate is enforced above point A... Price per CD O A. there will be an excess of labour. O B. there will be a shortage of labour. O C. the demand curve will shift to D3 O D. the demand curve will shift to D1 C D3 D₂ D₁ Quantity

"The Department of Employment and Labour's National Minimum Wage Commission is recommending an above-inflation hike to the NMW for 2023, which could see the rate for domestic workers jump to R25.05 an hour." Assume that initially the market for domestic workers is at equilibrium at point A on demand curve D₂ in the Figure. If the new minimum wage rate is enforced above point A... Price per CD O A. there will be an excess of labour. O B. there will be a shortage of labour. O C. the demand curve will shift to D3 O D. the demand curve will shift to D1 C D3 D₂ D₁ Quantity

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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I need help with #59 please
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