Advanced Placement (AP), 31.12.2021 01:00 dondre54

If a binding minimum wage increases in a perfectly competitive labor market, then which of the following will likely occur in the labor market? The supply of workers will increase.
Answer A: The supply of workers will increase.
Answer B: The supply of workers will decrease.
Answer C: The demand for workers will increase.
Answer D: The demand for workers will decrease.
Answer E: The quantity of workers supplied will increase

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If a binding minimum wage increases in a perfectly competitive labor market, then which of the follo...