Read the first two articles attached to the week 3 microeconomics document, emailed to all students. The minimum wage debate is the subject of both articles. Consider the contents of both articles. Is it wise policy for governments to increase the minimum wage? Explain in detail how the elasticity of demand for labor and the economic concepts related to cost of production are important principles to consider before altering the minimum wage.

https://www.google.com/amp/s/amp.economist.com/britain/2019/03/30/how-high-can-britains-minimum-wage-go

https://www.google.com/amp/s/amp.economist.com/finance-and-economics/2017/07/08/economists-argue-about-minimum-wages