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Suppose the equilibrium wage in the market for food service workers is​ $11 per hour. the government then establishes a minimum wage at​ $9 per hour. what will be the effect of …

Suppose the equilibrium wage in the market for food service workers is​ $11 per hour. the government then establishes a minimum wage at​ $9 per hour. what will be the effect of …
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Suppose the equilibrium wage in the market for food service workers is​ $11 per hour. the government then establishes a minimum wage at​ $9 per hour. what will be the effect of the minimum wage on the market for labor in the food service​ industry?

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User Pranta Saha
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1 Answer

4 votes
There will be no​ effect, since the market equilibrium wage that equates the amount of labor supplied with the amount of labor demanded is above the minimum wage.
answered
User Laander
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