Answer the following

Economics
Tutor: None Selected Time limit: 1 Day

Jun 2nd, 2015

Minimum wage;
minimum wage in  United States is a network of federal. state, and local statutes. Workers generally must be paid no less than the minimum wage as either the federal state or local government. From (2014 to 2015) nine states increased their minimum wage levels through automatic adjust, while increases in other states occurred through legislative or ballot changes...........
A price ceilinge;
 price ceiling when the government  limit on how high the price of a product can be.
 A price ceiling to be effective it must be set below the natural market equilibrium.
 A price ceiling is shortage. The price that the ceiling is set at there is more demand than there is at the equilibrium price. There is less supply than there is equilibrium price. the price ceiling quantity supplied the marginal benefit exceeds the marginal cost.........................................

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Jun 2nd, 2015

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