Assume that the labor demand equation for fictional country

Assignment Help Business Economics

Reference no: EM131090388

Assume that the labor demand equation for a fictional country is Ld = 90 – 2w, where w is the wage per hour worked. Assume also that the labor supply equation for that country is Ls = 0.5(w)

a. The equilibrium wage is $_____ and the equilibrium quantity of labor employed is____ worker

b. At the equilibrium wage,____ people are unemployed.

c. If the supply of workers increased, the number of unemployed would:

increase, decrease, or stay the same?

Reference no: EM131090388

Questions Cloud

The three different forms of market efficiency : 2-10 Investors expect a company to announce a 10% increase in earnings; instead, the company announces a 1% increase. If the market is semi-strong form efficient, which of the follow- ing would you expect to happen? (Hint: Refer to Footnote 13 in ..

Analyze how this example illustrate concerns related to cost : Identify a specific example related to health care, economics, policy, or other pertinent topics that is presented in the Learning Resources or another credible source. If you are an international student, you may select an example from your own c..

Sale of product and the value of price elasticity of demand : If the price of X drops from $1 to 80 cents, and the quantity rises from 2,000 pounds purchased to 3,000 pounds purchased what can we say about the relationship between total revenue from the sale of X and the value of the price elasticity od demand?..

What did each group focus on in regards the shooting : How would you describe the response to this incident of school violence from the following groups: teachers, students, school administrators, police enforcement, legal system? What did each group focus on in regards the shooting? Do you agree with..

Assume that the labor demand equation for fictional country : Assume that the labor demand equation for a fictional country is Ld = 90 – 2w, where w is the wage per hour worked. Assume also that the labor supply equation for that country is Ls = 0.5(w). If the supply of workers increased, the number of unemploy..

Demand for internet bandwidth and increasing costs : Many hotel chains that offer free Wi-Fi service to their customers have experienced increasing demand for Internet bandwidth and increasing costs. Perform a test to see whether the proportion exceeds 0.60. (The critical Z-scores for a left tail test ..

What type of document or source is being analysed : What type of document or source is being analysed? (author, purpose, aim, circumstances of production). What aspects of the topic are developed in this source? How comprehensive is this coverage? Are there gaps

Common perceptions of health outcomes-social inequalities : What is international health? What are the 3 common perceptions of health outcomes and social inequalities? What is the Social Gradient? What is the term for good stress? How can stress become a factor in healthy outcomes?

How much is the present worth of the annual disbursements : The maintenance costs are $1,000 per year for the first 20 years and $3,000 per year thereafter during an infinite life span. With interest at 8% per annum, how much is the present worth of the annual disbursements?

User Account

All Pages