[Assess students' ability to apply supply and demand analysis in labor markets to evaluate the impacts of a binding minimum wage. Expect graphing and interpretation of labor supply and demand, explanation of changes in equilibrium wages and employment, analysis of how relative elasticities and monopsony power alter outcomes, discussion of short-run vs long-run adjustments and price pass-through to consumers, and a brief evidence-based policy recommendation weighing trade-offs for workers, firms, and the broader economy.]