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When a minimum-wage law forces the wage to remain above the equilibrium level, the result is a. both surplus of labor and a surplus of jobs. be. a shortage of labor and a surplus of jobs. c. a surplus of labor and a shortage of jobs. d. both a shortage of labor and a shortage of jobs.

Answer :

tutordamola

Answer:

The answer is C. a surplus of labor and a shortage of jobs.

Explanation:

When the wage is above the equilibrium level, the quantity of labor supplied exceeds the quantity of labor demanded, this makes workers to be surplus in relative to the available jo vacancies. The surplus of labor being experienced is called unemployment.

And if the quantity of labor exceeds labor demanded, businesses will demand more of workers.

The result is a C. a surplus of labor and a shortage of jobs.

The following information should be considered:

  • In the case when the wage is over and above the level of equilibrium so the quantity of labor supplied should be more than the quantity of labor demanded.
  • Due to this, there is the surplus of labor and this result in shortage of jobs.  

Therefore we can conclude that the correct option is C.

Learn more: brainly.com/question/6201432

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