Q5 and Q6 was in regards to Minimum Wage, Consumer Surplus, Producer Surplus, Total Surplus, Deadweight Loss, Resources Lost in Job Search.

Also begs the question whether firms/workers/society better off following the introduction of minimum wage?

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Q7. [2 marks] Consider your responses in Q5 and Q6.

From a consequentialist perspective that has as its objective allocative efficiency, is the introduction of a minimum wage ethically justified? Explain.

Q8. [2 marks] Consider your responses in Q5 and Q6.

From a consequentialist perspective that has as its objective improving the standard of living of unskilled workers, is the introduction of a minimum wage ethically justified? Explain.

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