econ minimum wage

from an economic standpoint, evaluate the effect of a minimum wage on the market for low-wage labor. Include the following:

  • Discuss what economic theory predicts will happen
  • Draw a supply and demand graph illustrating the effect of a minimum wage
  • Discuss what elasticity conditions would economic theory prove to be true or false.

Adhere to the following standards:

  • Your paper should be three pages in length, not including the title or references pages.
  • Review the grading rubric, which may be found in the Week 8 folder.
  • Be sure to follow the CSU-Global Guide to Writing and APA Requirements.
  • Your paper should include an introduction, a body with at least two fully developed paragraphs, and a conclusion.
refs n cite 

preview of the answer..

There is a close relationship between employment conditions and labor market. In the United States, poverty is directly linked to economic inequality. The minimum wage refers to the minimum amount of money payable to any employee working in a given industry.  The lowest paid employee in any industry is supposed to fall within the limits of the minimum wage. Most of these workers who are paid the minimum wage are either part-time workers, young workers or …

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