Explain The Impact Of Minimum Wage Rate On Labor Market
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Question
If Ministry of labor sets up a minimum wage in the labor market, what can be the potential effect on the employment? Explain your answer with help of relevant diagram.
Summary
The question belongs to Economics, Micro-economics and it discusses about a question where the ministry of labor setting up a minimum wage in the labor market and its potential effect on employment. This has been discussed in the solution with a diagram.
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