Answer to Question #114779 in Economics for Thokozile Nkala

Question #114779
Examples of ignoring the law of demand
1
Expert's answer
2020-05-11T19:54:54-0400

Government policies sometimes ignore the law of demand outright. Consider minimum wages. When the government mandates a higher price for labor, employers reduce the quantity of labor they demand and search for substitutes. Employers might cut back on hiring.


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS