• Consider an average minimum wage of $14 per hour.
  • Using a supply and demand model, including a graph and your narration of that graph show that a minimum wage, if above the equilibrium wage, will create more unemployed people in that labor market. Explain from both the supply of and demand for labor points of view.
  • Using the same approach as the part above, identify an alternative policy approach that will reach the same goal as minimum wage legislation.