Min. wages with incomplete coverage
{"Image DocumentName": "Min. wages with incomplete coverage", "Image ImageDescription": "(a) Covered Sector. (b) Uncovered Sector. (c) Total Labor Market. w, Wage per hour. w, Wage per hour. w, Wage per hour. S. w. \u2013 S. u. w. w. w Demand curve is the sum of individual demands in the two sectors. Interaction of S and D at aggregate level produces a wage of w1 and corresponding levels of employment in the 2 sectors. Min wage in in the covered sector causes employment to fall. Supply in the uncovered sector is effectively increased. Supply can be found as Market supply minus employment in the covered sector. This gives a new eq at w2. w. 2. D. c. D. u. D. L. 2. L. 1. L. 1. L. 2. L. = L L. 1. c. c. u. u. 1. c. u. L. , Annual hours. L. , Annual hours. L. , Annual hours. c. u.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}