Solved: What assumption is made for a minimum wage to be price floor, Microeconomics

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What assumption is made for a minimum wage to be price floor

Problem

What assumption is made for a minimum wage to be a nonbinding price floor? What assumption is made for a living wage price floor to be binding?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What assumption is made for a minimum wage to be price floor

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Microeconomics: What assumption is made for a minimum wage to be price floor

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