If the college introduces a strictly enforced minimum wage of $11.50 an hour, how many students are
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If the college introduces a strictly enforced minimum wage of $11.50 an hour, how many students are employed, how many are unemployed, and what is the lowest wage at which some students would be willing to work?
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TABLE 2 Quantity Quantity Wage rate demanded supplied (dollars per hour) (student workers) 10.00 10.50 11.00 11.50 12.00 12.50 600 500 400 300 200 100 300 350 400 450 500 550
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ANSWER To analyze the impact of a strictly enforced minimum wage of 1150 per hour lets examine the p...View the full answer
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