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What are the pros and cons of higher minimum wages? Breifly talk about If you are...

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Economics

What are the pros and cons of higher minimum wages? Breifly talkabout If you are a supporter or not of higher minimum wages.

Answer & Explanation Solved by verified expert
3.9 Ratings (457 Votes)
Ans Minimum wage is an example of price floor Price floor isthe legal minimum price that must be paid for any product Abinding price floor is above the equilibrium priceSo a binding    See Answer
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