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Another reply already addresses your question about speed limits, which is another great example through which to examine these questions.

"Reasonable" is a completely subjective standard and not a good way to run a complex economy with an infinite combination of job seekers and providers.

Who gets to decide what is reasonable has big real world implications for millions of people. Get it wrong, and as we see in California here, people lose their jobs and businesses close all because some politician or bureaucrat (or misinformed voter) thinks they know better than workers and employers what the correct price for labor should be.