Impact of raising federal minimum wage on a firm
Not what you're looking for?
What would be the impact of raising the federal minimum wage on a firm?
Purchase this Solution
Solution Summary
This solution highlights some of the impacts of raising the federal minimum wage on a firm.
Solution Preview
What would be the impact of raising the federal minimum wage on a firm?
Raising the federal minimum wage has both positive and negative impact to firms and the economy as a whole. On one hand, raising the minimum wage could be a positive impact to the economy because the purchasing power of individuals is likely to increase. As the purchasing power increases, firms would have to up their productivity so as to meet the rising demand. On the other hand, some people think that raising the minimum wage would cause unemployment in the economy because firms may not afford to pay their employees ...
Education
- MBA, Aspen University
- Bachelor of Science , Berea College
Recent Feedback
- "Thank u"
- "Thank You!"
- "Thanks!"
- "Thank you so much"
- "Great job...thanks."
Purchase this Solution
Free BrainMass Quizzes
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.