Home › Bihar Board Class 12 (Arts) › Economics › Simple Applications of Tools of Demand and Supply › A minimum wage set above the equilibrium wage ma…
A minimum wage set above the equilibrium wage makes employers do what?
AHire more workers
BRaise all output
CCut product prices
DHire fewer workers
Answer & Solution
Correct answer: D. Hire fewer workers
A higher mandated wage makes labour costlier, so firms demand less of it.
Related questions
What do eviction controls in rent regulation set standards for?Isabella Weber argues price caps can help combat which problem?Why can a price ceiling sometimes raise prices?How is aggregate consumers' surplus obtained?Who showed consumer surplus can measure social welfare for a single price change?Which good generally gives a high consumer surplus?With linear curves, consumer surplus has which shape?Producer surplus lies below the equilibrium price and above which curve?