According to the textbook, proponents of minimum wage laws assume that:
A)The demand curve for unskilled workers is nearly vertical
B)The supply curve for unskilled workers is upward sloping
C)The demand curve for unskilled workers is nearly horizontal
D)The supply curve for unskilled workers is downward sloping

Question

Quizplus · Accepted Answer

Proponents of minimum wage laws assume that the demand for unskilled workers is nearly vertical, meaning that employers will continue to hire the same number of workers despite an increase in the minimum wage. This assumption allows proponents to argue that a minimum wage increase will benefit low-wage workers without causing significant job loss.

According to the Textbook, Proponents of Minimum Wage Laws Assume