Demand or supply for hairdressers when that minimum wage

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Reference no: EM13818069

The market equilibrium wage is currently $12 per hour among hairdressers. At that wage 17,323 hairdressers are currently employed in the state. The state legislature then sets a minimum wage of $11.50 per hour for hairdressers. If there are no changes to either the demand or supply for hairdressers when that minimum wage is imposed, the number of hairdressers employed in the state will be:

A: This is a bilaterall monopoly so you can't tell

B: still 17,323

C: Fewer than 17,323

D: More than 17,323

Reference no: EM13818069

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