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''Irrespective of the structure of the labour market, economic theory predicts that the imposition of a...

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Economics

''Irrespective of the structure of the labour market, economictheory predicts that the imposition of a minimum wage above theotherwise prevailing wage unambiguously reduces employment”.

Discuss the validity of the above statement both on the basis ofeconomic theory and in light of the existing empirical evidence

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