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If the Minimum Wage Is Currently Above the Equilibrium Wage,then

Question 28

Multiple Choice

If the minimum wage is currently above the equilibrium wage,then a decrease in the minimum wage


A) increases both the quantity demanded and the quantity supplied of labor.
B) decreases both the quantity demanded and the quantity supplied of labor.
C) increases the quantity of labor demanded but decreases the quantity of labor supplied.
D) decreases the quantity of labor demanded but increases the quantity of labor supplied.

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