Assume an industry uses labor and capital in its production, Ask an Expert

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Assume an industry uses labor and capital in its production process. The government places a modest minimum wage on this industry above the market clearing equilibrium wage. If firms in this industry are price takers in the labor market, how do you expect this minimum wage change to affect the amount of capital firms in this industry employ?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91722005

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