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.

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.