The minimum wage is an ineffective antipoverty measure for all EXCEPT which of the following reasons?
The wage ceiling created by minimum wage laws falls below the equilibrium price, producing a shortage of labor.
An increase in wages may cause employees to lose working hours, resulting in a negative net change in pay.
The wage floor created by minimum wage laws lies above the equilibrium price, producing a surplus of labor.
Increased wages can force small businesses, which are less able to adapt to changes in costs, to close their operations, reducing the total quantity of jobs.
The wage mandated by law often exceeds the value created by low-skilled workers, resulting in a move away from labor-intensive processes.