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Assignment
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 to five pages in length, not including the title or references pages.• Review the grading rubric, which is be found in the Week 3 folder.• Incorporate at least three scholarly references that are not required readings for this module.
Your paper should include an introduction, a body with at least two fully developed paragraphs, and a conclusion.
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