Distinguish carefully between a minimum wage and a wage subsidy as alternative policies to assist low-wage workers.  Explain your answer.(needs to be at least 100 words )

(c) Let us now turn to the labor market for grocery store workers in Little town. Recently one of the last two grocery stores in Little town closed leaving only one employer for grocery store workers in this area. This labor market is not very competitive. What type of market structure is this?  (d) Draw a typical supply curve (i.e. average expenditure), marginal expenditure, and demand for the grocery store in Little Town. Label the equilibrium wage and number of grocery store workers.  (e) Suppose that some time has passed and the population has grown in Little Town and there are now many grocery stores. Now suppose that the grocery store workers unionize. Draw a graph to depict the equilibrium wage and number of workers in this new market.

Suppose that in an effort to help low-skill workers the government raises the permissible minimum wage to $15 per hour. Can you think of any unintended secondary effects that will result from this action? Will all low-skill workers be helped by minimum wage law?

A subsidy is defined as a direct government payment to domestic producers government pension plan for domestic producers O a government savings account for domestic producers a small business loan to farmers

The minimum wage in Arizona is $10.50. This is higher than the federal minimum wage of $7.25. Which of the following is true? Select the correct answer below: Businesses in Arizona cannot pay workers less than $10.50 per hour. Businesses in Arizona can pay workers wages between $7.25 $10.50 per hour. Businesses in Arizona can pay workers less than $10.50 per hour. all of the above.