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Author Question: The figure above illustrates the current market for fast-food workers in Baltimore. a. Without any ... (Read 311 times)

nmorano1

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on: May 24, 2019


The figure above illustrates the current market for fast-food workers in Baltimore.
a.   Without any government intervention, what is the equilibrium wage rate and amount of employment?
b.   If the city government imposes a minimum wage of $3 an hour, what is the amount of employment? Does the minimum wage create any unemployment? Why or why not?
c.   If the city government imposes a minimum wage of $6 an hour, what is the amount of employment? Does the minimum wage create any unemployment? Why or why not?
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by nmorano1 on May 24, 2019

akemokai

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Reply #1 on: May 24, 2019
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nmorano1

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Reply #2 on: May 24, 2019
Thanks


akemokai

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Reply #3 on: May 24, 2019
Welcome :)


Mason Haer

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Reply #4 on: Feb 17, 2020
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