Suppose the demand for labor is given by MPL 200 0 5L where L is the number of workers and MPL the wage w (assume that the price is $1) The supply of labor is given by 100 4w where w is the wage The government imposes a minimum wage of 60 This minimum wage creates wage but do not have jobs) in thi...

To find out how many workers become unemployed due to the minimum wage we need to compare the ...

Suppose the demand for labor is given by MPL = 200 -0.5L where L is the...

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