Business, 31.03.2020 20:52 arianaaldaz062002
In advance of the recent increase in the U. S. minimum wage rate, the government of the state of Arizona decided to boost its own minimum wage by $1.60 per hour. This pushed the wage rate earned by Arizona teenagers above the equilibrium wage rate in the teen labor market. What is the predicted effect of this action by Arizona's government on each of the following?
a. The quantity of labor supplied by Arizona teenagers
b. The quantity of labor demanded by employers of Arizona teenagers.
c. The number of unemployed Arizona teenagers
d. Please draw demand curve, supply curve and unemployment of question a, b and c on a graph.
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In advance of the recent increase in the U. S. minimum wage rate, the government of the state of Ari...
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