Economists call a minimum wage that prevents the labor market from reaching equilibrium a bonding minimum wage.) In this particular case, the minimum wage of $9 per hour 2. ___will__OR__will not___prevent the market from reaching the equilibrium you found above.
A price control will only be binding if it is set at a point that will change the outcome. Since the price is already $9, a minimum of $5 will not affect the $9 price, but a minimum of $10 will raise the price to $10, and thus be binding.
Two other senators introduce bills which would set the minimum wage at $5 or $10 per hour. Which of these minimum wages would be binding? Check ALL that apply