A common argument in favor of minimum wage laws is that they are necessary to prevent employers from taking unfair advantage of their employees. What is the flaw of this argument?
A legal minimum wage does all but which ONE of the following?
a) Reduces the quantity of labor demanded
b) Increases the quantity of labor supplied
c) Creates a market surplus of labor
d) Creates a market shortage of labor..
Question Has to be answered in 150 WORDS.