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Business, 28.11.2019 01:31 zamawi17

If a minimum-wage law is above the equilibrium wage, and if the law is enforced, there will be a decrease in the number of workers in the affected group who are employed. on the other hand, the workers in the affected group who are able to keep their jobs will earn more than they would have earned without the minimum-wage law. the net effect on the total number of dollars paid to the affected group of workers will depend on the elasticity of demand for these workers. assume that the demand for these workers is inelastic. what will happen to the total number of dollars paid to the affected group of workers?

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