A fast-food restaurant currently hires the amount of labor that maximizes profit at a market-determined wage of $7.25 per hour. If government legislation now states that all firms must pay workers a minimum of $10.00 per hour, how will this legislation affect the firm's hiring decision?

Answer rating: 100% (QA)

The increase in the minimum wage from 725 to 1000 per hour would likely affect the fastfood restaura... View the full answer