Business, 17.03.2020 01:24 timothytomas2046

Suppose there are two labor markets in a perfectly competitive industry; one regulated by the minimum wage and one not (not all firms have to follow a federally mandated minimum wage). Draw two graphs in equilibrium without regulation. If a binding minimum wage in placed in one market, show what happens to the quantity traded in that market and the wage and quantity in the unregulated market

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Suppose there are two labor markets in a perfectly competitive industry; one regulated by the minimu...

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