Which of the following statements about minimum-wage laws are true?
Minimum wages:
(i) force a market imbalance between the supply and demand for labour
(ii) increase the efficiency of labour markets
(iii) are most effective at alleviating poverty when labour demand is highly elastic
A) (i) only
B) (i) and (ii)
C) (i) and (iii)
D) (ii) and (iii)
Correct Answer:
Verified
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