2. What is a minimum wage? Is a minimum wage a price ceiling or a price floor?
A minimum wage is
A minimum wage is a price.
A. the minimum income necessary for a worker to meet life's basic needs; ceiling
B. the wage rate below which it is illegal to pay workers; ceiling
OC. the wage rate below which it is illegal to pay workers; floor
OD. the wage rate at which the quantity of labor demanded equals the quantity of labor supplied; floor