Question: Prior to beginning work on this discussion, read Jared Bernstein's article,Amazon's Raise: Unequivocally Good News(Links to an external site.) https://www.journalgazette.net/opinion/columns/20181007/amazons-raise-unequivocally-good-news . Why is the demand

Prior to beginning work on this discussion, read Jared Bernstein's article,Amazon's Raise: Unequivocally Good News(Links to an external site.)

https://www.journalgazette.net/opinion/columns/20181007/amazons-raise-unequivocally-good-news

.

  • Why is the demand for labor called a derived demand?
  • In the labor market, what are the firm's demand curve for labor and the workers' supply curve of labor?
  • How is a firm's wage normally determined in the labor market?
  • How could Amazon decide to raise its minimum wage to $15 per hour, despite the federal minimum wage being fixed at $7.25 per hour?
  • What are positive and negative effects of Amazon raising its minimum wage to $15 per hour on its employees, total revenue, and other companies and their employees?

.

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