If demand elasticity is $-0\mathrm{.}25$ and a binding minimum wage rises from $$12$ to $$20,$ use the midpoint formula to calculate what happens to employment in $\%$ terms. Show your work. Put this result in a S&D diagram $-$ raise the wage from $$12$ to $$20$ and show q$1$ and q$2($you do not have to use numbers for quantity $-$ just q$1$ and q$2).$