Problem
Suppose government imposed a minimum wage above equilibrium wage.
a. Assuming nothing else changes, what do you expect to happen to the resulting shortage of jobs as time progresses?
b. What do you expect to happen to the producer surplus transferred to minimum wage earners as time progresses?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.