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Glendale ECON 101 -How Does The Minimum Wage Increase

Submitted by • January 17, 2019

Question
1)Please read the article and give short answers...

Please read the article: http://www.usatoday.com/story/money/2016/03/28/california-raises-minimum-wage-15-hour/82348622/

1) How does the minimum wage increase in California to $15.00 by 2022 affect laborers and businesses?

2) Is there a better way to compromise on a minimum wage? What should the wage be today?

3) What do you consider livable wage?

4) How did you calculate that wage?

2)Please read the article: http://www.bloomberg.com/bw/articles/2017-11-18/us-beef-supply-will-fall-again-in-2017-chicken-demand-will-rise

1) What supply factors are causing the price of beef to continually increase?

2) If we see a continual price increase in beef, it will only lead to a beef surplus thereby creating a market failure. What factors of demand are needed to re-balance the beef market?

3) Think of your own meat consumption. Has the price of beef changed your behavior to consumer more chicken? If so, why? If not, why not?

1.A

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Voted by Admiiin

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