In the table above, the market is in equilibrium. Then a minimum wage is set at $11 per hour. The number of workers who lose their jobs will be

A) 0.
B) 1 million.
C) 3 million.
D) 5 million.

B

Economics

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When product prices increase slower than nominal wages increase, the real value of wages decreases

Indicate whether the statement is true or false

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A unit-elastic demand curve never touches or crosses either of the axes. Why?

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