Question: Suppose a minimum wage i5 introduced at $10. Before minimum wage, there were 10 workers. working for $8 dollars an hour. At $10. 20 people

Suppose a minimum wage i5 introduced at $10. Before minimum wage, there were 10 workers. working for $8 dollars an hour. At $10. 20 people want to work, but there are only T positions. available. What has happened to the total amount of wageS paid to employed workera? C: Total wages collected decrease by $130. Q Total wageS collected increase by $10. Q Total wages collected do not change. (E) Total wages collected decrease by $10

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=+ f. Do you think that this analysis provides a good way of thinking about a minimumwage law? Why or why not?

=+ c. How would this change in productivity affect the labor market if unions prevent real wages from falling?

=+ 7. When workers wages rise, their decision about how much time to spend working is affected in two confl icting waysas you may have learned in courses in microeconomics. The income effect