Demand for labor in the markets inelastic or elastic

Assignment Help Macroeconomics
Reference no: EM131065893

Given the following info, indicate whether you would expect the demand for labor in the markets inelastic or elastic. Explain why.

1. Demand for beer is inelastic in the short run. Market: Beer plant workers in the short run.

2. Today many patients feel that nurse practitioners can easily substitute for medical doctors to provide routine health care. Market: Medical doctors for routine health care

3. Robots are easily substituted for manual labor. Market: manual labor

Reference no: EM131065893

Questions Cloud

What is a demand function : 1. What is a demand function? Which variables determine demand? 2. What happens to demand when the following changes occur? a. Price of the good declines.
A characteristic of the statute of limitations : A characteristic of the statute of limitations is _____. A 3-year statute of limitations applies to all tax returns. The same statute of limitations applies to tax refunds and deficiencies.
Elasticity analysis-short paper one : Perhaps the best way to ensure that the concepts are covered is to organize the paper by topic: 1) demand, 2) supply, 3) price elasticity, 4) cross elasticity, 5) income elasticity, 6) supply elasticity.
Why the supermarket''s slogan will never be credible : Draft a letter explaining why the supermarket's slogan will never be credible unless its employees carry it out.
Demand for labor in the markets inelastic or elastic : Given the following info, indicate whether you would expect the demand for labor in the markets inelastic or elastic. Explain why.
Determine the value of a large manufacturing : Which of the following approaches would an assessor most likely use if she were trying to determine the value of a large manufacturing plant?
Allocating land in desirable communities : Consider a developer that has vacant land (90,000 squarefeet of space) ready for building houses in a neighborhood that is desirable because of its superior schools.
Quantity demanded of labor and quantity supplied of labor : Suppose that the government raises the minimum wage and in doing so causes real wages to increase throughout the economy. What would be the effect on the micro economy in relation to the quantity demanded of labor and the quantity supplied of lab..
What happens when a process is finished using the database : what happens when a process is finished using the database

Reviews

Write a Review

Macroeconomics Questions & Answers

  Demand for the biscuits

Suppose the Jamaica biscuit producing company, located in Kingston, has 100 ovens and the life of each oven is 5 years, and 20 ovens must be replaced each year. If demand for the biscuits is constant, how many ovens will be replaced each year?

  Discuss market trends that general motors organization

Discuss market trends that General Motors organization/industry will face and address(discuss) how their prices and technology will change or will not change, and why.

  Discuss privatization in terms of the production

An ongoing policy issue is the privatization of hydro in the province of Ontario . Discuss privatization in terms of the production, transmission and retailing sectors . Specifically which sectors should be deregulated and why?

  Amazons autobot recently recommended which book

Amazon's "autobot" recently recommended a book to one of us titled Quality Maintenance: Zero Defects through Equipment Management. The book's description is "Achieve zero-defect product quality by eliminating the root causes of your equipment defe..

  Eliminate the monopoly''s economic profit

A monopolist is in long-run equilibrium and earning economic profits equal $100 million. The government imposes a lump sum tax of $100 million on the monopolist.

  Identifying the nash equilibrium or multiple equilibrium

Suppose two high tech companies, X and Y, are the only producers of a new  product that is used my numerous computer manufacturers.

  True or false questions on marginal revenue

Characterize each of the following statements as true or false, and explain your answer.

  Germany consumers have 50 in income their gross domestice

germany consumers have 50 in income their gross domestice product. they spend 35 on consumer goods 25 on germany goods

  Calculate labor force participation rate

What is national saving? What is private saving? How are these three variables related and what is Labor Force Participation rate? Calculate Labor Force Participation rate.

  How cutthroat plans on making money using right strategy

Dr. Cutthroat is a plastic surgeon specealizing in turning ugly, old people into young and beautiful/handsome creatures, for a fee, of course. He has just started a practice in an island far away from civilization, inhabited by ric h and ugly peop..

  What would be the effects on employment and unemployment

What would be the effects on employment and unemployment given the actions taken by the Fed.

  Consider an industry with a small number of firms

Consider an industry with a small number of firms with market power. Suppose they sell identical products and have identical cost of production. If each firm posts a price without knowing the prices

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd