Q1. From the perspective of economic theory, what is a minimum wage and when is it binding? Q2. According to the Fair Work Commission’s National Minimum Wage Order for 2018 (available on it’s website), what is the national minimum wage per hour in Australia for an adult worker? The following information will be used for the remaining 10 questions. Assume that the market for unskilled labour in Australia is a competitive market and …

| December 7, 2018

Q1. From the perspective of economic theory, what is a minimum wage and when is it binding? Q2. According to the Fair Work Commission’s National Minimum Wage Order for 2018 (available on it’s website), what is the national minimum wage per hour in Australia for an adult worker? The following information will be used for the remaining 10 questions. Assume that the market for unskilled labour in Australia is a competitive market and …

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