In: Economics
Which of the following is the most likely outcome of a decrease in the minimum wage? Please also provide an explanation.
a) an increase in the number of unskilled workers who are involuntarily unemployed
b) an increase in the number of people who are voluntarily unemployed
c) a shift to the right of the demand for unskilled workers
d) a shift to the left of the supply of skilled workers e) a shift to the left of the supply of unskilled workers
Option C.