Disadvantages of the minimum wage (Demand and supply of labour)

HideShow resource information

1) Magnitude-

  - A small increase above equilibrium won't have much affect on the wage rate

2) Below Equilibrium-

  - A minimum wage set below will not have any affect

3) No affect over a short time period



No comments have yet been made

Similar Economics resources:

See all Economics resources »See all The labour market resources »