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Suppose the Equilibrium Wage Is $10 Per Hour

Question 344

Multiple Choice

Suppose the equilibrium wage is $10 per hour. A minimum wage is a ________ and affects employment if it is set at ________.

A) price floor; $12 per hour
B) price floor; $8 per hour
C) price ceiling; $10 per hour
D) price ceiling; $12 per hour

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