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Author Question: The figure above illustrates the current market for fast-food workers in Baltimore. a. Without any ... (Read 465 times)

nmorano1

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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?


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Marked as best answer by nmorano1 on May 24, 2019

akemokai

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