Suppose that the mythical country moricana has a very high minimum wage. labor market laws are trade union-friendly and allow unions a high degree of bargaining power. moricana is in a recessionlong dashcapacity utilization in the economy is at an all-time low, surveys show that firms do not expect economic conditions to improve in the coming year. firms in the country are cutting back on capital spending and investment. in moricana, wages are likely to be