Answer to Question #213488 in Microeconomics for selina

Question #213488

In competitive markets, what do business owners do when the minimum wage rises? How does this affect the teenagers ? explain the suitable reason for the same.


1
Expert's answer
2021-07-06T12:13:55-0400

Owners will reduce the quantity of labor demanded by firms, increase the quantity of labor supplied by workers, and cause reductions in employment for youths.


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