Workers at a bicycle assembly plant currently earn a mandatory minimum wage. If the government increases the minimum wage by R1.00 an hour, it is likely that the

Question

Answer

demand for bicycle assembly workers will increase.

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supply of bicycles will shift to the right.

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firm must increase output to maintain profit levels.

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supply of bicycles will shift to the left.

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Workers at a bicycle assembly plant currently earn a mandatory minimum wage. If ...

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