Estimate of the monthly dollar value of the social cost

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The City of Wonderland has decided to build a new park to allow more social distancing. For this, the city hires 200 low-skilled workers paying then the local minimum wage of $150 a month. As unemployment is high in the City of Wonderland, we can assume that if these persons were not employed by the city, the number of unemployed persons would be 200 higher than it is. What would be a reasonable upper-bound estimate of the monthly dollar value of the social cost of employing these persons?

Reference no: EM132592905

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