Refer to Figure 6-9. In this market, a minimum wage of $7.00 creates a labor
1 answer:
A minimum wage of $7.00 in the market creates a labor that is binding and creates unemployment.
<h3>What is minimum wage?</h3>A minimum wage means the ceiling wage that must be paid to the labor.
Hence, the minimum wage of $7.00 in the market creates a labor that is binding and creates unemployment.
Therefore, the Option C is correct.
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