The governor is concerned about poverty in the state and proposes that the state minimum wage be raised from $7.25 per hour to $15.00 per hour. She claims that this would be an effective way to assist lower income families; however, she is worried that a large number of jobs will be lost as a result. Briefly evaluate her arguments using a labor supply and demand graph. Explain how the long-run impact of the minimum wage law may be different than the short-run impact.