Advanced Placement (AP) College

A minimum wage has been placed on a monopsony labor market that is greater than the monopsony wage, but less than the wage where the marginal revenue product of labor and the marginal factor cost of labor intersect.
What happens as a result of the minimum wage?

Answers

Answer 1

If the employers of low-wage workers have monopsony power, then a minimum wage could increase employment as well as wages.

What is minimum wage?

An employee may not legally sell their labor for less than the minimum wage, which is the lowest compensation a business may pay their staff. By the turn of the 20th century, minimum wage laws were in place in the majority of nations. Because minimum wages drive up the cost of labor, businesses frequently deploy gig workers, relocate their workforces to places with lower or no minimum wages, or automate job activities in an effort to get around minimum wage legislation.

The fight for higher minimum wages was initially sparked by a desire to discourage employers who were seen to have unfair bargaining leverage over their employees from abusing them in sweatshops. Minimum wages were eventually viewed as a method to assist lower-income households.

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Related Questions

Which statement best describes the role of nature in King Lear?

A.
Nature is viewed as something to be tamed and conquered by many different characters.

B.
Nature functions as a stark contrast against the insular court and royal lifestyle of King Lear.

C.
Nature plays a critical role in exposing the characters to different environments throughout the play.

D.
Nature in many forms is the constant backdrop of the play and characters interact with it in different ways.

E. Nature works in both the background and foreground of the play to highlight how characters view the role of fate.

Answers

The statement that best describes the role of nature in King Lear is option E. Nature works in both the background and foreground of the play to highlight how characters view the role of fate.

What part does nature play in King Lear?

The predominance of the bad characters in King Lear may give us the impression that nature is a terrible force. Edmund contends that nature is a wicked goddess who grants him the evil spirit required to question the existing quo. Thus, his badness is inevitable.

Since the dawn of time, mankind has made mistakes yet has continued. Since the original sin changed the way that human nature was created, mistakes, misunderstandings, and ignorance in general have become commonplace.

Therefore, Nature plays a significant role in the play's background and foreground, highlighting how characters perceive fate.

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The post hoc test commonly used in ANOVA to compare the means of all pairs of groups, such as the mean salary of employees in different departments or the mean test scores of students in different grade levels, is _______.
(research methods psychology)

Answers

Answer:

The post hoc test commonly used in ANOVA to compare the means of all pairs of groups is the Tukey's test.

Explanation:

Answer:Use post hoc tests to explore differences between multiple group means while controlling the experiment-wise error rate.

Explanation:

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