From an economic standpoint, evaluate the effect of a minimum wage on the market for low-wage labor. Include the following:

• Discuss what economic theory predicts will happen
• Draw a supply and demand graph illustrating the effect of a minimum wage
• Discuss what elasticity conditions would economic theory prove to be true or false.

Adhere to the following standards:

• Your paper should be three to five pages in length, not including the title or references pages.
• Review the grading rubric.
• Incorporate at least three scholarly references

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