Figure 5.2. The figure shows the supply and demand curves of a firm. 
-Which of the following statements is true?
A) Minimum wage creates a labor deficit in a market.
B) Minimum wage intends to increase the consumer surplus.
C) Minimum wage is a wage set below the equilibrium wage in order to create more job opportunities.
D) Minimum wage harms the unskilled workers between the age group 40 and 50.
E) Minimum wage harms the unskilled workers between the age group 16 and 19.
Correct Answer:
Verified
Q55: Figure 5.3. The figure shows the wage
Q56: Figure 5.3. The figure shows the wage
Q57: Figure 5.3. The figure shows the wage
Q58: Figure 5.3. The figure shows the wage
Q59: Figure 5.3. The figure shows the wage
Q61: Figure 5.3. The figure shows the wage
Q62: Figure 5.3. The figure shows the wage
Q63: Figure 5.3. The figure shows the wage
Q64: Figure 5.3. The figure shows the wage
Q65: Figure 5.3. The figure shows the wage
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