Discuss the type of price control that a government would implement if it wishes to impose a national minimum wage. Include in your answer the economic effects of such a price control. Motivate your answer with the aid of a diagram.

Discuss the type of price control that a government would implement if it wishes to impose a national minimum wage. Include in your answer the economic effects of such a price control. Motivate your answer with the aid of a diagram.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter4: Prices: Free, Controlled, And Relative

Section: Chapter Questions

Problem 5QP

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