Problem
1. Does the elasticity of labor supply have an effect on the change in the wage bill when there is an increase in the minimum wage? Does this elasticity have an effect on the unemployment rate when the minimum wage changes?
2. (Advanced) Using the discussion of estimation of labor demand, if you could conduct an experiment to see the effects of a minimum wage increase, what exactly would you do?
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.