There is considerable debate about the consequences of the minimum wage law and its influence on unemployment for "unskilled" workers. Knowing this: a. Draw a graph (demand and supply) of the market for unskilled labor without the minimum wage law. Make sure you label everything - axes, demand and supply curves, etc. b. On the same graph, show the effects of a binding minimum wage that is higher than the original equilibrium wage. Would this make surplus (excess supply of labor), shortage (excess demand for labor) or have no impact. c. Explain to me what impact the minimum wage has if the equilibrium price of labor (equilibrium labor wage) is greater than the minimum wage.