Explain the effects of the higher minimum wage on the worker

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$26 boost to minimum wage The government has increased the minimum wage by $26 a week to $569.90 a week. Unions wanted a $27 a week increase, but employers argued that that level of increase was unaffordable and would send smaller firms to the wall.

Explain the effects of the higher minimum wage on the workers' surplus and the firms' surplus. Has the labor market become more efficient or less efficient? Explain.

Reference no: EM131298474

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