Answer:
The purpose of minimum wages is to ensure that all workers in the United States (who worked at least 40 days a week) have enough resources to at least support the life of their family. So, in cases of contradictory occurrence like this, the higher minimum wage will be used over the lower ones.
If a state does not have a minimum wage law or its minimum wage is lower than the federal law, workers are entitled to the federal wage. If a state minimum wage is higher than the federal minimum wage, workers are entitled to the state-specific wage
In a recent poll, 67 percent of small business owners support raising the minimum wage to $15 an hour. They say it would spark consumer demand, allowing them to retain or hire new employees. And raising pay doesn't seem to force employers to cut jobs. It would help lift 900,000 people out of poverty. Increase the income of 17 million people (one in 10 workers), to the tune of $509 billion over 10 years. Potentially raise the wages of another 10 million people.
Several states have a minimum wage that is higher than the federal minimum. In those states that impose such a minimum wage, the minimum wage is more likely to act as a binding price floor, causing excess supply in the market. A price refers to the amount of money that a customer or consumer buying goods and services is willing to pay for the goods and services offered. The price of goods and services is set primarily by the seller or service provider. Price controls can be defined as standard restrictions or regulatory conditions that are normally established and enforced by the government of a country. Ultimately, this implies that price controls are used to impose government-set minimum and maximum prices to be charged for various goods and services on the market. This minimum price that can be charged, like the minimum wage, is known as the minimum price, while the maximum price that can be charged, such as rent control, is known as the maximum price.
Explanation:
<h2>
<em><u>hope it helps you<3</u></em></h2>