Question: 9. If the minimum wage is set above the equilibrium wage rate, then other things being equal Select one: a. More people will be employed

9. If the minimum wage is set above the equilibrium wage rate, then other things being equal Select one: a. More people will be employed b. There will be excess demand in the labour market c. There will be excess supply in the labour market d. there will be equilibrium in the labour market 43. In monopolistic competition, the assumption of independence results from which assumption: Select one: a. Homogenous products b. Barriers to entry cLarge number of firms d. Price taker 40. Why are firms in Perfect Competition known as Price takers

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