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zmey [24]
3 years ago
15

An increase in the minimum wage will tend to cause which of the following to​ occur? A. an increase in the size of the surplus o

f labor B. a rightward shift in the supply of labor C. a leftward shift in the demand for labor D. a reduction in the unemployment rate
Business
1 answer:
VMariaS [17]3 years ago
5 0

Answer:

The answer is B.

Explanation:

The law of supply states that the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

Labor is resource in factor market. Factor market is a market where factor of production like capital, labor, land etc are sold and bought.

With an increase in minimum wage, many people will be willing to work. This means there is an increase in supply of labor which will lead to rightward shift in the supply of labor.

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4 0
2 years ago
Pls help me answer these 2 questions for my Econ Test on Tuesday plzzzz!!!!
Ainat [17]

Answer:

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Explanation:

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6 0
3 years ago
Jenny runs a small boutique in New Orleans and has five employees working under her. Lately, she has noticed that her boutique h
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3 years ago
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