How do minimum wage affect the markets demand
Problem: How do minimum wage affect the market's demand for unskilled labor and its quantity demanded for unskilled labor-will each increase, decrease, or stay the same? Explain.
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Please explain your rationale based on the determinants of demand and supply.
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How do minimum wage affect the market's demand for unskilled labor and its quantity demanded for unskilled labor-will each increase, decrease
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As a result, at the new equilibrium point, the price elasticity of demand became 0.6. Determine the price elasticity of supply at the new equilibrium point
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