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The labor supply and demand curves for workers in the fast food industry are given by: Qls = 980 + 2W and Qld = 1000 - 2W, where W is the wage paid to workers per hour; Qls is the quantity of labor supplied by workers, and Qld is the quantity of labor (in hours) demanded by firms.
a. Graph the supply and demand curves and find equilibrium wages and labor.
b. What will be the burden (on workers and firms) of a unit payroll tax of $0.50 per hour imposed on firms? What is the deadweight loss? Indicate them on the graph.
c. What would happen to the burden of the tax if the workers valued the tax $0.30 per worker hour? What is the deadweight loss? Indicate them on the graph.
The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.
Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..
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