(1) What is the impact of a minimum wage above the equilibrium
wage on the quantity of labor supplied and demanded? (Practice
drawing a supply and demand graph that shows this. Notice how the
impact is affected if the supply curve is flatter or steeper, i.e.,
more elastic or inelastic. I will post the graph(s) to this
discussion thread, after your initial responses are due. You need
not submit any graphs in this Discussion Topic post, but you may
find...