--%>

Influence of moderate minimum wage law

Can someone please help me in finding out the accurate answer from the following question.

Even a moderate minimum wage law influences labor markets by causing the unemployment of: (1) Unskilled workers when the labor market is perfectly competitive. (2) Unskilled workers when the labor market is monopsonistic. (3) Skilled workers despite of the competitive structure of labor market. (4) All the above.

   Related Questions in Microeconomics

  • Q : Illustrates the initial point of

    RoboMatic’s RoboMaids have turn into the hottest innovation in consumer electronics since colour television. The initial point Robomatic requires to see in its quest to maximize profit is: (1) point e. (2) point f. (3) point g.

  • Q : Income of consumer-consequence on

    Income of consumer: In case of normal good - Increase in income leads to rise in quantity demanded of a normal good and reduce in income leads to reduction in quanti

  • Q : Product Differentiation During product

    During product differentiation, the firms attempt to: (w) become price takers. (x) gain a degree of market power over their pricing and sales of their products. (y) increase the supply of their products. (z) raise the price elasticity of the demand fo

  • Q : Competitive pressures produce by

    Economic losses produce competitive pressures which decrease the industries: (w) output and number of firms. (x) prices and profits. (y) percentage mark-ups over costs. (z) long term labor turnover. I need a good a

  • Q : Objective of Price Controls Price

    Price controls are intended to: (w) eliminate arbitrage and speculation. (x) stabilize prices. (y) make sure laissez-faire policies. (z) ignore shortages and surpluses. How can I solve my economics problem? Please

  • Q : Demand when oligopolistic firm

    When an oligopolistic firm increases its price, in that case the demand this faces will be: (1) more elastic if the other firms in the industry raise their prices. (2) less elastic when no other firms in the industry raise their prices. (3) more elast

  • Q : Substitution Effect-relative price of

    The substitution effect signifies to the change in consumption pattern as: (1) The absolute price of the good modifications. (2) Income changes. (3) The relative price of good changes. (4) The quality of good changes. Can someone p

  • Q : Monopsony and Marginal Resource Costs

    The marginal resource cost for the monopsonist in labor market which can’t discriminate the wage: (1) Is perfectly inelastic. (2) Lies beneath the market supply of labor. (3) Lies above market supply of the labor. (4) Is perfectly elastic.

  • Q : Marginal revenue curve A monopolist

    A monopolist which does not price discriminate has a marginal revenue curve which slopes down faster than does the demand curve the monopolist faces since: (1) economies of scale are significant. (2) selling more requires lowering the