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  5. From this diagram, t...

From this diagram, the minimum wage OW will lead to

Economics
JAMB 2012

From this diagram, the minimum wage OW will lead to

  • A. full employment of resources
  • B. unemployment
  • C. inflation
  • D. full employment of factors of production
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Correct Answer: Option D
Explanation

The point OW shows that labour is highly utilized and the wage rate is competitive. This means the factors of production (laboour and wage ) have been highly utilized

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