(Answered) 1 price controls can be more effective in the short run

Economics

1. "Price controls can be more effective in the short run than in the long run." Explain.

2. Why would some firms want the minimum wage to be increased? Why would some managers who believe that workers "deserve" higher wages cut fringe benefits or increase worker demands in response to a hike in the minimum wage?

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Microeconomics, Economics

Category:- Microeconomics
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