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19 July, 22:57

Why is minimum wage above equilibrium?

A) Minimum wage is a price floor with a surplus of job seekers.

B) Minimum wage is a price floor with a shortage of job seekers.

C) Minimum wage is a price ceiling with a surplus of job seekers.

D) Minimum wage is a price ceiling with a shortage of job seekers.

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Answers (2)
  1. 19 July, 23:05
    0
    Answer: The correct answer is A
  2. 19 July, 23:26
    0
    A) Minimum wage is a price floor with a surplus of job seekers.

    Explanation:

    The minimum wage is the lowest wage a company can pay for an employee.

    It is established by law and is reassessed every year based on the cost of living of the population, its creation was made based on the minimum amount that a person spends to guarantee their survival.

    In addition, it is said that the minimum wage is above the market's level of equilibrium in relation to a possible excess of employability. More concisely, we can say that the minimum wage is above balance because the minimum wage is a price floor with a surplus of job seekers.
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Home » Business » Why is minimum wage above equilibrium? A) Minimum wage is a price floor with a surplus of job seekers. B) Minimum wage is a price floor with a shortage of job seekers. C) Minimum wage is a price ceiling with a surplus of job seekers.
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