What are the opportunity costs of keeping wage at same level, Biology

What are the opportunity costs of keeping wage at same level

Problem

Read the following article: Minimum Wage to Increase in California on January 1, 2023 then answer the questions.

A. How does the minimum wage increase in California to $15.50 by 2023 affect laborers and businesses amid the COVID-19 pandemic?

B. Is there a better way to compromise on a minimum wage? What should the wage be today?

C. What do you consider a 'livable wage' today in a spiraling economy, and how would you calculate that wage?

D. What are the opportunity costs of keeping wages at the same level as the federal government ($7.25 per hour)?

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