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A binding minimum wage is a legally established lowest hourly pay that employers are required to pay their employees, which is set above the equilibrium wage determined by market forces. This means that employers cannot pay less than this wage, leading to increased income for workers earning minimum wage. However, if set too high, a binding minimum wage can lead to potential job losses or reduced hiring, as businesses may struggle to afford the increased labor costs.
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What is the minimum wage in Kansas?
The minimum wage is $7.25, the same as federal minimum wage.
Did they have a minimum wage in the 1800s?
there was no minimum wage then:)
Minimum wage in the 1920s?
what was the minimum wage in the 1920
What is the minimum wage in Italy?
italy does not have a minimum wage
What is the minimum wage in Delaware?
The minimum wage in the state of Delaware is $7.25 an hour.
What is the minimum wage in Idaho?
The minimum wage in the state of Idaho is $7.25 an hour, the same as the federal minimum wage. This minimum wage was enacted in 2007.
What was the minimum wage in th 1920s?
There was no minimum wage in that era
How do you say the minimum wage is more?
higher minimum wage
A 1938 law set a minimum what?
wage
How much was minimum wage in 1910?
There was no minimum wage in 1910.
What is the minimum wage in Eurasia?
Eurasia, as a whole, does not have a minimum wage.
What is the minimum wage in US 2007?
minimum wage differs from states to states... there are even some that have NO minimum wage whatsoever.
