According to the Case in Point on The Monopsony-Minimum Wage Controversy, the fact that some studies have found that increases in the minimum wage have led to either increased employment or no significant reductions in employment:
A) confirms that a perfectly competitive labor market exists.
B) suggests that a perfectly competitive labor market may not exist.
C) implies that a bilateral monopoly exists in the market for unskilled labor.
D) none of the above
Correct Answer:
Verified
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