Problem on Minimum Wage Laws

The Minimum wage legislation is UNLIKELY to aid: (i) Skillful workers who compete with untrained workers. (ii) Untrained workers who don’t lose their jobs. (iii) Buyers of goods which are more capital intensive associative to the buyers of labor intensive goods. (iv) Untrained workers who lose their jobs since of the higher nominal wage. (v) Teenagers who are employed at higher nominal legal wage.

What is the right answer?

View Complete Question

Related Questions in Microeconomics

Q : Implication of freedom of entry and

Describe the implication of freedom of entry and exit to the firms beneath perfect competition.

Q : Maximization of the Goals of Firm I

I have a problem in economics on Maximization of the Goals of Firm. Please help me in the following question. The firm’s goal of profit maximization is most distantly analogous to: (i) Revenue maximization by the Internal Revenue Agents. (ii) Ma

Q : Cost and revenue assume the firm is a

assume the firm is a price taker and faces a market price of €60 per unit. draw the AR and MR curves

Q : Problem regarding law of Diminishing

Can someone help me in finding out the right answer from the given options. According to the law of diminishing marginal utility, the longer that Chris and Lee kiss: (i) The less invested each will be in enduring this relationship. (ii) The closer they are to arriving

Q : Feature of pure competition NOT a

NOT a feature of pure competition would be: (w) identical products of firms. (x) long-run freedom of entry and exit. (y) large numbers of sellers and buyers. (z) price making behavior by individual firms. I need a

Q : Arising of natural monopolist Natural

Natural monopolies arise due to: (w) artificial barriers to entry. (x) contestable markets. (y) price discrimination. (z) natural barriers to entry. I need a good answer on the topic of Economics p

Q : Most efficient technology at the lowest

When all goods are produced in highly competitive markets as well as there are no externalities, goods tend to be manufactured: (i) relatively inefficiently. (ii) along with the most efficient technology at the lowest price. (iii) along with maximum p

Discover Q & A

Leading Solution Library

Avail More Than 1424122 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1922945
Asked

3,689

Active Tutors

1424122

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment