Question: A minimum wage is a Price Floor. When a price floor is imposed on a the price floor, but not lower than the price floor.

A minimum wage is a Price Floor. When a price floor is imposed on a the price floor, but not lower than the price floor. In the labor market, the price is the wage rate. Thus, a minimum wag increases workers wages, but it also decreases the quantity demanded the quantity demanded of unskilled and low skilled labor, especially y Assignment Summary : View the two videos above and videos 1, 2 and 7 under the Week Tw the other videos for a deeper understanding of price controls. Visit The Faces of

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