Question

We all love to go to little, local ice cream shops. Many of these places hire teenagers over the summer to serve these delicious treats for us. Suppose that a new minimum wage bill comes online this summer, raising the minimum to $10/hour. Create two graphs: 1) model the market for these ice cream shop workers and how shop owners will likely respond to the minimum wage increase immediately after it happens; 2) model what would happen if a company starts using very cheap robot ice cream servers... how does it affect the market for teenage servers. Explain in your paragraph what is going on and give arguments why your graph is reasonable.

Answer 1

The detailed answers are given in the below diagram.

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