In a competitive labor market, when the government increases the minimum wage, the result is a(n) in the quantity of labor supplied and a(n) in the quantity of labor demanded. increase, increase increase, decrease decrease, increase decrease, decrease

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26-02-2018
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In a competitive labor market, when the government increases the minimum wage, the result is a(n) in the quantity of labor supplied and a(n) in the quantity of labor demanded. increase, increase increase, decrease decrease, increase decrease, decrease

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MrsTriplet MrsTriplet · Answer 1 · 2018-03-07T18:46:42+01:00

In a competitive labor market, when the government increases the minimum wage, the result is an increase in the quantity of labor supplied and a decrease in the quantity of labor demanded. More people want to work when there is an increase in what they will be paid for their work. As more jobs are filled and less vacant ones are available the quantity of labor demanded goes down because these people are filling the jobs.

In a competitive labor market, when the government increases the minimum wage, the result is a(n) __________ in the quantity of labor supplied and a(n) __________ in the quantity of labor demanded. increase, increase increase, decrease decrease, increase decrease, decrease

Respuesta :

Otras preguntas

In a competitive labor market, when the government increases the minimum wage, the result is a(n) in the quantity of labor supplied and a(n) in the quantity of labor demanded. increase, increase increase, decrease decrease, increase decrease, decrease