A binding minimum wage tends to
a. cause a labor surplus.
b. cause unemployment.
c. have the greatest impact in the market for teenage labor.
d. All of the above are correct.
d
Economics
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Which of the following is a source of wage stickiness?
1. fixed wage contracts 2. minimum wage laws 3. workers and firms want to avoid complexity of negotiating contracts frequently A. I and III only B. I and II only C. I only D. I, II, and III
Economics
________: the point at which the marginal cost curve intersects that average total cost curve
Fill in the blank(s) with correct word
Economics