What occurs in the labor market when the prevailing wage

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Reference no: EM131090274

What occurs in the labor market when the prevailing wage (price) exceeds the equilibrium wage (price)?

Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers.

Unemployment falls

A shortage occurs

A surplus arises

Unemployment rises

Reference no: EM131090274

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