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Economics - Financial Markets 33 Online
OpenStudy (anonymous):

why minimum wage increase cause the unemployment reduce in monosopny market?

OpenStudy (anonymous):

Monopsonists must pay increasingly higher wages to attract more workers from the labor supply because there is no one else hiring to keep wages competitively stable. If minimum wage is increased, then the wages are being forced higher and so naturally more people will be attracted and hired, reducing unemployment.

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