Labor Economics
Labor Economics
7th Edition
ISBN: 9780078021886
Author: George J Borjas
Publisher: McGraw-Hill Education
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Chapter 3, Problem 12P
To determine

Explain the amount of unemployment created by an increase in the minimum wage that depends on the elasticity of labor demand.

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How does the amount of unemployment created by an increase in the minimum wage depend on the elasticity of labor demand? Do you think an increase in the minimum wage will have a greater unemployment effect in the fast-food industry or in the lawn-care/landscaping industry?
how does the demand and supply for labour affect the wage rate of workers?
How do wages affect labor supply?
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