Write a 8 sentence response to the following. “It is good to increase the minimum wage to $15 an hour in California”.

Write a 8 sentence response to the following. “It is good to increase the minimum wage to $15 an hour in California“.

Be sure, to analyse the topic from an economic perspective. Outline the pros and cons, as well as provide an explanation of prices acting as a signal and incentive in the in the labor market.

Also, include at least one graph of the labor market (draw/attach with explanations) that explores this topic from the market perspective. This graph should be drawn with the demand and supply of labor to outline how the minimum wage affects the market outcomes.

HINT: Minimum wage is a price floor in the labor market (read your textbook and answer completely).

*To add a graph you can draw the graph and take a picture and upload it, cut and paste the GRAPH ONLY from the internet (if you take a narrative from the internet, I will give you zero for this assignment, or draw in paint, word etc. and include it as part of your response. A graph is REQUIRED for this question.

Check this link for options on how to add images to your assignment Links to an external site.

Link showing how to add files/graphs.