Which of the following is the most likely outcome of raising the minimum wage?
A) An increase in both the quantity of labor supplied by workers and the quantity of labor demanded by firms
B) An increase in the quantity of labor supplied by workers and a decrease in the quantity of labor demanded by firms
C) A decrease in the quantity of labor supplied by workers and an increase in the quantity of labor demanded by firms
D) A decrease in both the quantity of labor supplied by workers and the quantity of labor demanded by firms
Correct Answer:
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A)increase demand
