Answer to Question #134020 in Economics for Success

Question

Minister of labor, Thulas Nxesi, has gazettes South Africa’s new minimum wage which will take effect from 1 March 2020. The gazette states that the new national minimum wage is R20.76- an increase of 3.8%. Provide a discussion on the welfare effect of the above, that illustrates the case for when the above results in unemployment in the market for domestic workers as well as a case for when the above have no effect on the market for domestic workers. Use a diagram to support ur discussion.

Answer 1

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