Multiple Choice
What will happen if a newly imposed minimum wage is set above the equilibrium wage in a labour market
A) The equilibrium wage in the market will rise.
B) Every worker who is earning a wage below the minimum will be better off.
C) Some workers will get a raise and some workers will lose their jobs.
D) Workers earning more than the minimum wage will be worse off.
Correct Answer:
Verified
Correct Answer:
Verified
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