There is a debate going on in the U.S. about the minimum wage. Currently, federal law mandates a minimum wage of $7.25 per hour and some states and cities have a higher one. One side of the debate thinks that the minimum wage is fine at $7.25 or should even be lower or non-existent. The other side of the debate thinks that $7.25 is too lower and it should be raised, with some thinking that the minimum wage should be raised to $15.00 per hour. In this forum, I am not asking you to take sides in this debate.

Required:

Incorporate the debate into the PEST Model and see where you think the minimum wage would best fit….and it could be more than one spot.