Multiple Choice
Consider two groups of workers both facing identical downward-sloping demand curves.The labor supply curve of group A workers is relatively elastic,while that of group B workers is relatively inelastic.Which of the following will result if the government imposes a minimum wage in both these labor market?
A) Group A workers will experience a higher disemployment effect than group B workers.
B) Group B workers will experience a higher disemployment effect than group A workers.
C) The total unemployment experienced by Group A workers will be higher than Group B workers.
D) The total unemployment experienced by Group B workers will be higher than Group A workers.
Correct Answer:
Verified
Correct Answer:
Verified
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