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(Solved): Refer to the diagram below which illustrates a labour market with a binding minimum wage of $16. Wha ...



Refer to the diagram below which illustrates a labour market with a binding minimum wage of $16. What is the unemployment rate rounded to one decimal place created by the minimum wage in this labour market?

Wage Rate???????

Wage Rate


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When $16 minimum wage rule is applied, then:Labor force = 2.7 MNumber of e
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