Ask Question
28 October, 09:47

Suppose the equilibrium wage in the market for food service workers is $11 per hour. the government then establishes a minimum wage at $9 per hour. what will be the effect of the minimum wage on the market for labor in the food service industry?

+3
Answers (1)
  1. 28 October, 12:13
    0
    There will be no effect, since the market equilibrium wage that equates the amount of labor supplied with the amount of labor demanded is above the minimum wage.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Suppose the equilibrium wage in the market for food service workers is $11 per hour. the government then establishes a minimum wage at $9 ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers