Although the minimum wage leads to an inefficient allocation of resources, society may still prefer to impose the minimum wage in the interest of equity. Explain the logic behind this statement and use a welfare possibilities frontier and social indifference curves to support your answer.

Max recorded the heights of 500 male humans. he found that the heights were normally distributed around a mean of 177 centimeters. which statements about max’s data must be true? a) the median of max’s data is 250 b) more than half of the data points max recorded were 177 centimeters. c) a data point chosen at random is as likely to be above the mean as it is to be below the mean. d) every height within three standard deviations of the mean is equally likely to be chosen if a data point is selected at random.