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Business
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Microeconomics Study Set 51
Quiz 4: Prices: Free, Controlled, and Relative
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Question 121
Essay
What condition is necessary for a price floor to have an impact on a market? Describe two effects that a price floor can have on a market.
Question 122
Essay
Explain why it is important to differentiate between the "number of unskilled workers" and the "number of unskilled labor hours" when evaluating the impact on the market for unskilled labor of an increase in minimum wage.