An employer faces a minimum wage control where it cannot pay its workers less than $10.25 per hour. The employer knows that workers value the jobs and are willing to work even for much less. The employer decides to offer them the minimum wage, but manages to prevent other sellers of work uniforms from selling uniforms to his workers so that he can charge more for the ones he sells. What is an example of ?

Answer rating: 100% (QA)

This scenario describes two potential economic concepts 1 Monopsony Power The employer exhibits mono... View the full answer