Page 210 of this microeconomics textbook[0] MIT uses covers minimum wage. It's a classic example used to show the effects of price floors. There are macro imp

Page 210 of this microeconomics textbook[0] MIT uses covers minimum wage. It's a classic example used to show the effects of price floors. There are macro implications if you install a simultaneous price floor across all markets but that only makes it a micro and macro issue. I have no idea why anybody would try to reformulate microeconomics into physics via thermodynamics. That doesn't even make sense, you don't derive physics from thermo, it's the other way around. [0] - http://ocw.mit.edu/ans7870/14/14.01SC/MIT14_01SCF11_rttext.pdf http://ocw.mit.edu/ans7870/14/14.01SC/MIT14_01SCF11_rttext.p...