The question belongs to economics mainly to micro-economics, Microeconomics

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The question belongs to economics mainly to micro-economics

Question

If Ministry of labor sets up a minimum wage in the labor market, what can be the potential effect on the employment? Explain your answer with help of relevant diagram.

Summary

The question belongs to Economics, mainly to Micro-economics and it is discusses about a question where the ministry of labor setting up a minimum wage in the labor market and its potential effect on employment. This has been discussed in the solution with a diagram.

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Microeconomics: The question belongs to economics mainly to micro-economics

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Microeconomics: The question belongs to economics mainly to micro-economics

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