Minimum Wage Case Study

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1. When the minimum wage is above the equilibrium price then quantity of labor supplied will increase because of the excess in labor supply-people will be willing to work at a higher wage. As a result, the labor demanded will decrease because the excess in labor supply created a decrease in demand for workers.
2. Our government should require employers to pay their worker minimum wage. This will ensure that low-income worker will have enough wage to live on. Minimum wage should be determined based on the equilibrium wage to not create excess in labor supply. Employers lose with the minimum wage laws, while the workers win/benefit for it. The government can provide free education up to an associate degree to create skills and knowledge for low-income

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