Choose an event, situation, issue, or problem from business or society today

LENGTH AND FORMAT: The paper should be 10 – 15 pages in length, double spaced, and follow generally accepted APA guidelines for college papers. It should contain a bibliography, andreferences should be properly noted. Information on APA standards for preparing papers can be found at the Webster online library.PURPOSE: The purpose of having you write a research paper is to gauge how effectively you can apply information covered in class to real-world situations and circumstances. This course succeeds if you can effectively move economic theory from an academic setting to a valid analysis of past or current world events, your work existence, school environment, or life in general.EVALUATION: In evaluating your paper, I am most interested in whether your economic analysis and/or conclusions have been thought out, logically developed, clearly presented, and supported with your own analysis and/or that of others. In other words, I want you to think and apply textbook theory to a true managerial situation, real or theoretical.SUGGESTED REFERENCES / SOURCES: You may reference economic texts, periodicals, speeches, or any other source as long as it is properly credited. Some suggestions are the Wall Street Journal, Business Week, business journals, any major paper or periodical, television or radio newscasts, other classes you have taken, etc. Remember that a reference can provide support even though it may not be considered economic. Original academic sources are always preferred to second or third-hand descriptions of the original work.TOPIC: Choose an event, situation, issue, or problem from business or society today and analyze the microeconomics aspects of the topic chosen using sound Managerial Economic theory. Provide a description of what you are writing about, but your paper is not the description, but the research and analysis. Some examples of topics to get your ideas flowing are listed below. You should pick your own topic, but the list may perhaps start you thinking towards a meaningful topic to you.My topic is: The impact of minimum wage increasing to $10/ hour on the United States economy