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Suppose that the government imposes a minimum wage policy for workers in factories that produce computers but not on workers that produce computer accessories. Using supply and demand analysis, show the effect of implementing a minimum wage on the computer labour market. Discuss some potential consequences of implementing a minimum wage.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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