Customer Service Chat
Get quote & make Payment
labor , Microeconomics
#questThe demand for and supply of labour in a certain industry are given by the equations
Nd = 400 - 2w
Ns = 240 + 2w
Where Nd ( is the number of workers employers want to hire )
Where Ns ( is the number of people willing to work, and both demand and supply depend on the real
wage w'' which is measured in dollars per day )
1. Find employment and real wage in the labour market equilibrium
2. Suppose the minimum wage is $50 per day
(a) Find employment and total unemployment
(b) Is anyone made better by the minimum wage? anyone Worse off ? (consider workers, employers, society and taxpayers
(c) Instaed of a minimum wage, suppose there is unemployment benefit that pays $50 per day. Workers are indifferent between earning a wage of $50 per day and remaining unemployed and collecting the benefit.
Demonstrarte using work/leisure diagram that this unemployment benefit reduces incentives.ion..
Posted Date: 5/19/2012 5:37:40 AM | Location : United States
Ask an Expert
labor , Assignment Help, Ask Question on labor , Get Answer, Expert's Help, labor Discussions
Write discussion on labor
Your posts are moderated
Write your message here..
Derive the linear demand and supply, Suppose that the short-run world deman...
Suppose that the short-run world demand and supply elasticities for crude oil are -0.076 and 0.088, respectively. The current price per barrel is $30 and the short -run equilibrium
Determinants of short run cost, Determinants of Short Run Cost - The re...
Determinants of Short Run Cost - The relationship among the production function and cost can be exemplified by either increasing returns and cost or decreasing returns and cost
Elimination of waste - stock management, Elimination of waste - Stock Manag...
Elimination of waste - Stock Management Here is a definition of the elimination of waste: Anything other than the minimum amount of equipment, material, parts and working t
What is the policy of the east asian miracle, The East Asian Miracle Ho...
The East Asian Miracle However the set of extraordinarily successful economies isn't limited to the set of original OECD economies. Economies of the East Asian miracle have ove
Labour supply, Labour Supply:Total number of workers available and willing ...
Labour Supply:Total number of workers available and willing to work in a paid position; generally measured by the labour force(even though the labour force usually excludes many wo
Required the Detail Answer, Sir i am the student of MSC Economcis frin Dust...
Sir i am the student of MSC Economcis frin Dustabce University (AIOU)from Islamabad (Pakistan)my name is Mohammed Bilal Farooq and required the answer of the following questions Q
Changing the surveillance framework, Changing the Surveillance Framework: ...
Changing the Surveillance Framework: Part of the challenge entails reorienting surveillance, the process through which the BW institutions policy advice is delivered, to make
Theory of oligopolistic competition, Theory of Oligopoly: Oligopoly is that...
Theory of Oligopoly: Oligopoly is that situation where the number of firms in the market is large but not as large as in the case of perfect competition so that it is possible for
What is joint stock, Q. What is Joint Stock? Joint Stock: A form of bus...
Q. What is Joint Stock? Joint Stock: A form of business in which company's assets are jointly divided among a large number of different individual owners, each of whom owns a s
Allocation of a countrys resources to the price mechanism, What are the adv...
What are the advantages of leaving the allocation of a countrys resources to the price mechanism? Ans) The main conditions needed are: 1. Either a finite number of agents or pr
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
Why Us ?
~24x7 hrs Support
~Quality of Work
~Time on Delivery
~Privacy of Work
Human Resource Management
Literature Review Writing Help
Terms & Conditions
Copyright by ExpertsMind IT Educational Pvt. Ltd.