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Suppose that the new administration hires you to research two alternatives for hourly pay. The first is a free market where supply and demand determine hourly pay. The second alternative is where a $16 per hour minimum wage is set for all jobs. Based on what you have learned in class and at least two scholarly articles on the topic that are no more than five years old, write a 3-4 page paper in APA format examining the advantages and disadvantages of both plans. Then select the one you think is the better alternative and explain why.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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