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, which may be found in the Week 8 folder.
• Be sure to follow the CSU-Global Guide to Writing and APA Requirements.
• Your paper should include an introduction, a body with at least two fully developed paragraphs, and a conclusion.