What is the market equilibrium level

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Reference no: EM131505070

Question: What will be the effect on the following of fixing a minimum wage above the market equilibrium level:

(a) employment in a perfectly competitive industry in which all firms are equally efficient;

(b) the number of firms operating in that industry;

(d) employment in a firm that, prior to the fixing of the minimum wage, faced an upward-sloping supply curve of labour?

Reference no: EM131505070

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