If a government fixes the wage rate above the mar-
ket equilibrium rate it will lead to
(A) ex-
cess demand for labour (B) low supply of labour
(C) excess supply of labour (D) industrial strike ac-
tions

Question

01-06-2021
Business

Answered

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If a government fixes the wage rate above the mar-
ket equilibrium rate it will lead to
(A) ex-
cess demand for labour (B) low supply of labour
(C) excess supply of labour (D) industrial strike ac-
tions

Sagot :

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Netta00 Netta00 · Answer 1 · 2021-06-06T07:55:14-04:00

Netta00 Netta00

06-06-2021

Answer:

Option B

Explanation:

Fixing the wage rate above the market equilibrium rate will disturb the demand and supply equilibrium of labor resource.

Wage rate above market will make labor as a resource costly for business and hence, there is possibility that the demand for labor will lower down. Thus, the supply of labor will get low.

Hence, option B is correct

Answer Link

Sagot :

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