If the equilibrium wage in the market for unskilled labor is $8.00 per hour and the government sets a minimum wage at $8.00 per hour, which of the following will occur?
A. The minimum wage will have no effect because it is set at the equilibrium wage.
B. Some unskilled workers will lose their jobs.
C. The wages paid to unskilled workers will rise.
D. The number of workers employed in the market will increase.
Answer: A
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