Prices and RegulationsDraw labor supply and demand curves for cashiers in Hadley supermarkets. Show the effect of a rise in the minimum wage to above the current wage rate. 2. Do you anticipate large...

Prices and RegulationsDraw labor supply and demand curves for cashiers in Hadley supermarkets. Show the effect of a rise in the minimum wage to above the current wage rate. 2. Do you anticipate large employment gains or losses? 3. Show the area of wages (employment times the wage). What happens to this area with the increase in the minimum wage?4. Would you favor a higher minimum wage?