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Discuss the market effects of minimum wages

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Minimum wage laws state the lowest price for labor that any employer must pay. For instance in Kenya, The Labour Institutions Act (No. 12 of 2007) sets the basic minimum consolidated wages for an unskilled employee at Ksh.6,736.30 while that of farm foreman at Ksh.12,152.20. You are required to discuss the market effects of minimum wages IN GENERAL. Use relevant examples and graphical support, where possible.

Reference no: EM133076718

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