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Show in a supply and demand diagram how minimum wage can increase unemployment

May 6, 2015May 7, 2017 / econ101help / Leave a Comment on Show in a supply and demand diagram how minimum wage can increase unemployment

In our supply and demand analysis, a minimum wage is a simple application of a binding price floor. In this case,…

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Microeconomics

Why price floors reduce social surplus

June 5, 2014September 21, 2014 / econ101help / Leave a Comment on Why price floors reduce social surplus

Price floors are a mandated minimum price that firms are allowed to charge for a product. It ensures that all…

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