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02-12-2021
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when a minimum-wage law forces the wage to remain above the equilibrium level, the result is

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Juls209 Juls209

02-12-2021

When a minimum-wage law forces the wage to remain above the level that balances supply and demand, it raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level. ( There is a surplus of labor.)

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