Answer the following question in detail: According to the economics perspective does earning a college degree make good economic sense? Remember, 1) write in third person 2) apply the principles and concepts from the economics perspective into the economic analysis 3) explain ideas in detail using economic logic 4) Do not consider additional sources. Refrain from visiting supplemental websites or using online AI software to construct or edit economic analysis.

The minimum wage debate is the topic for the week two economic analysis. A government price floor in the form of a minimum wage is a normative economic debate. Watch the two videos which outline and investigate concepts and issues related to the minimum wage. Utilizing the principles of market economics and the concepts related to elasticity of demand to answer the following question: does a government-imposed price floor in the market for low-skilled labor in the form of a minimum wage make good economic sense. Answer the question using bullet points. Be certain to construct ideas around the economic principles related to the issue.