Minimum wage is set above the equilibrium market wage

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Reference no: EM13732839

When the minimum wage is set above the equilibrium market wage,

a. there will be a shortage of labor at the minimum wage

b. it will have no effect on the quantity of labor employed

c. the unemployment rate will rise

d. the quality of the labor force will increase

e. the unemployment rate will fall

Reference no: EM13732839

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