I need the answer as soon as possible 18. The minimum wage is an exampleofA. O Price floorB. O Price ceilingC. O Equilibrium wageD. O Efficiency of labour

To find : minimum is which type of example.

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Economics

The minimum wage is an example of

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter4: Labor And Financial Markets

Section: Chapter Questions

Problem 20RQ: Whether the product market or the labor market, what happens to line equilibrium price and quantity...

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Concept explainers

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

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18. The minimum wage is an example
of
A. O Price floor
B. O Price ceiling
C. O Equilibrium wage
D. O Efficiency of labour

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