To be effective in raising people's wages, a minimum wage must be set
A) above the equilibrium wage rate.
B) below the equilibrium wage rate.
C) equal to the equilibrium wage rate.
D) below $7.
E) either above or below the equilibrium wage depending on whether the supply curve of labor shifts rightward or leftward in response to the minimum wage.
A
Economics
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a. same, same b. less, same c. more, same d. more, decreased
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A firm cannot price discriminate if it
a. has perfect information about consumer demand. b. operates in a competitive market. c. faces a downward-sloping demand curve. d. is regulated by the government.
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