Monopolies and minimum wages

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  See http://www.dol.gov/dol/topic/wages/minimumwage.htm "The federal minimum wage for covered nonexempt employees is $7.25 per hour effective July 24, 2009. " Cap and trade legislation exists for some pollutants.

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  This is because such monopolies by themselves, as is the case with all monopolies, have little incentive to charge prices close to cost and, rather, tend to charge profit maximizing prices and restrict output.

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  4) Real wages (wages without inflation) have continued to increase over the long run. Please explain how this can occur.

• Government Regulation of Business

  Anti-trust laws work to prevent monopolies to preserve competitiveness in the market place. Minimum wages are also set by the government, as are regulations regarding overtime pay, and some benefits. These serve to protect the employee.

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  This solution addresses three business questions addressing minimum wage, unsolicited buds and monopolies

• government-granted monopolies

  Public utilities as local telephone service, natural gas distribution, and electricity are natural monopolies.

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  Provide an analysis based on the demand and supply of labor. Step 1: Pros of Raising Minimum Wages The pros of increasing the minimum wages are that higher wages provide economic stimulus as workers have more money to spend.

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  An example in Australia is award wages (minimum wages allowed). This involves the labour market. Here people supply labour for wages. Firms hire (demand) workers for those wages.

• compensation, considering, synonymous,

  Similarly, in case of minimum wages the company must pay minimum wages equivalent to the higher of two minimum wages.