From an economic standpoint, evaluate the effect of a minimum wage on the market for low-wage labor. Include the following: Discuss what economic theory predicts will happen Draw a supply and demand graph illustrating the effect of a minimum wage Discuss what elasticity conditions would economic theory prove to be true or false. Adhere to the following standards: Your paper should be three to five pages in length, not including the title or references pages. Review the grading rubric, which is be found in the Week 3 folder. Incorporate at least three scholarly references that are not required readings for this module. The CSU-Global Library is a good place to find these references. Be sure to follow the CSU-Global Guide to Writing and APA Requirements. Your paper should include an introduction, a body with at least two fully developed paragraphs, and a conclusion.