Question: Please refer to the below question: Q3 (3 marks). Minimum wage policy, which is specifically designed to help low-income people, could actually reduce their income.

Please refer to the below question:

Q3 (3 marks). Minimum wage policy, which is specifically designed to help low-income people, could actually reduce their income. Using the concept of demand elasticity of labor, explain when this situation can happen. (Drawing a graph will help.)

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