[SOLVED] Microeconomics of Minimum Wage

The Minimum Wage has existed as a legal entity in the United States for almost 80 years. There is a thorough and passionate debate about the impacts the minimum wage has on employers, employees, compensation, costs, unemployment, and efficiency, to name just a few. Noting what has been mentioned above, write a paper in which you explore the economic benefits and economic costs (the “pros and cons”) of the minimum wage in the USA. As always, it is not an option to opt out and say there are no benefits or there are no costs – your job is to explore the issues. At the end of your paper, you may offer your own opinion of what you think of all this.

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