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Answer to Question #68551 in Microeconomics for usman
Question #68551
Explain why labor union leaders are strong advocates of raising the minimum wage above equilibrium wage?
Expert's answer
1. Many union wage agreements are based on tiering above the minimum wage.
2. It reduces the price level competition between skilled and unskilled labor.
Source: https://answers.yahoo.com/question/index?qid=20110720133705AA0GnMc
2. It reduces the price level competition between skilled and unskilled labor.
Source: https://answers.yahoo.com/question/index?qid=20110720133705AA0GnMc
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