58 714
Assignments Done
Successfully Done
In March 2018
Your physics homework can be a real challenge, and the due date can be really close — feel free to use our assistance and get the desired result.
Be sure that math assignments completed by our experts will be error-free and done according to your instructions specified in the submitted order form.
Our experts will gladly share their knowledge and help you with programming homework. Keep up with the world’s newest programming trends.

Answer on Microeconomics Question for saad

Question #24585
Let's assume that many of the workers in the silk shirt industry make the minimum wage. (Note: A minimum wage law sets a minimum acceptable wage for labor.) If the minimum wage is increased via this law, in the market for silk shirts we would expect:

A. P* up, Q* down

B. P* up, Q* up

C. P* down, Q* down

D. P* down, Q* up

E. A movement to the right along the supply curve.
Expert's answer
C. P* down, Q* down, If minimum wage increases it will lead to increase of cost and increase of prices. Increase of prices will shift demand curve down

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!


No comments. Be first!

Leave a comment

Ask Your question