Labor economics, economics, Microeconomics

Assignment Help:

Suppose that Congress increases the minimum wage to $10 an hour.
a. Use a supply and demand model for unskilled labor to show the effect on the number of unskilled workers employed.
b. Does the change in employment depend on the labor demand elasticity or the labor supply elasticity or both? Explain, using a graph.
c. Which elasticity (or elasticities) affects the change in unemployment? Explain with a graph

Related Discussions:- Labor economics, economics

Determine the optimal number of ads -regression, You work in the front offi...

You work in the front office of the Spokane Indians, a minor league baseball team that plays in the Northwest League of Minor League Baseball. Your boss wants to know the different

Elasticity, discuss how a knowledge of price elasticity and income elastici...

discuss how a knowledge of price elasticity and income elasticity be of practical use to a firm

Pure monopoly, Pure Monopoly: Pure monopoly examined the market struct...

Pure Monopoly: Pure monopoly examined the market structure that is generally regarded as the polar opposite of perfect competition – i.e. the monopoly model. Like the perfect

Tourism marketing 1, How Airlines solve the perishability of unsold seats a...

How Airlines solve the perishability of unsold seats and what they do to their prices as the seats get close to perish?

Microeconomics, Using real life examples and the use of the following conce...

Using real life examples and the use of the following concepts: Effecient vs Ineffecient and Opportunity cost and increasing opportunity cost

What are the possible advantages of free trade, What are the possible advan...

What are the possible advantages of free trade? Firms a) Specialisation and enhanced use of comparative advantage b) Possibility of advantages of scale c) Spread

Determine the consumer surplus and the average price per cup, Suppose the d...

Suppose the demand curve for a consumer for coffee is: Q = 6 – 2P, where Q represents the number of cups per day and P is the price of coffee per cup. Question: Sppose the co

Is there a trade-off between inflation and unemployment, Is there a trade-o...

Is there a trade-off between inflation and unemployment? The Keynesian side posits that policies can indeed be used to stimulate demand - demand-side policies - and those mar

Long-run behavior, The Long-Run Behavior of Natural Resource Prices Ob...

The Long-Run Behavior of Natural Resource Prices Observations – Exhaustion of copper has increased by a hundred fold from 1880 through 1998 signifying a large increase in

How might country achieve living standards growth, Once countries already h...

Once countries already have a high level of production, how might they achieve living standards growth? Once countries achieve a high level of production, they might be achiev

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages