Answered

Get the answers you need at Westonci.ca, where our expert community is always ready to help with accurate information. Connect with a community of experts ready to help you find solutions to your questions quickly and accurately. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Assume that the labor market for retail workers is generally unskilled. If a minimum wage is set in the labor market for retail workers and that this minimum wage is above the equilibrium wage in this particular labor market, then __________ .

Sagot :

Answer:

there will be a surplus of retail workers in this labor market.

Explanation:

Here we presume that the labor market is not skilled. Now in the case when the minimum wage i.e. set and this wage should be more than the equilibrium wage so that means there is the surplus in the labor market

So as per the given situation, the above statement should be considered and fit to the given scenario

Hence the same is to be considered

We hope this was helpful. Please come back whenever you need more information or answers to your queries. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.