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Impose separate minimum wages on distinct occupations

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In principle, the government could impose separate minimum wages on distinct occupations. Suppose the government imposed a minimum wage of 20 percent over their respective market wages for ditch-diggers and university professors. Would this create greater (proportional) job losses among ditch-diggers or university professors? Explain. (In formulating your answer, consider the four Hicks-Marshall laws of derived demand.)

Reference no: EM13740005

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