Question

which of the following statements have been used to support the minimum wage?multiple select question.in a low-pay labor market with some monopsony power, the minimum wage can increase wage rates without causing significant unemployment.a minimum wage eliminates the incentive for workers to unionize and demand higher wages.a higher wage may reduce labor turnover, increasing the average productivity of firm's workers.a higher wage might prompt firms to find more productive tasks for low-paid workers, thus raising their productivity.

Answer 1

The following statements have been used to support the minimum wage: it can increase wage rates without causing significant unemployment, reduce labor turnover, and increase productivity.

Step-by-step explanation:

The following statements have been used to support the minimum wage:

In a low-pay labor market with some monopsony power, the minimum wage can increase wage rates without causing significant unemployment.

A higher wage may reduce labor turnover, increasing the average productivity of firm's workers.

A higher wage might prompt firms to find more productive tasks for low-paid workers, thus raising their productivity.

These statements highlight the potential benefits of the minimum wage, such as improving wage rates, reducing turnover, and increasing productivity. However, it's important to note that the effectiveness of the minimum wage can vary depending on the specific labor market conditions and other factors.