Why franklin reduced its minimum wage

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Suppose Hamilton and Franklin are neighboring states with similar economies. Prior to Jan. 2003 they both had the same minimum wage. On Jan. 1 2003 Hamilton reduced its minimum wage by one dollar and Franklin reduced its minimum wage by 2 dollars. Although there was no migration between the states, after Jan. 2003 employment rose in Hamilton and fell in Franklin. How can this be explained?

Reference no: EM1357516

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