What is the equilibrium employment level?
Homework Answers
Answer
Using the function and values provided the functions are
LD=100000-W
LS=10000+2W
the equilibrium is at LD=LS
100000-W=10000+2W
3W=90000
W=30000
L=10000+2*30000=70000
the equilibrium employment level is 70000.
Option 4
Add Answer to:
What is the equilibrium employment level?
Question 2 Consider the following labor market Labor demand: L...
equilibrium wage? Question 6 1 points Save Answer Consider the following labor market Labor demand: Lap-...
equilibrium wage?
Question 6 1 points Save Answer Consider the following labor market Labor demand: Lap- w Labor supply: LS as 2w where w is the wage, Lis the number of workers, ap and as are constants Now suppose that business owners predict low sales next year so they reduce hiring and as a result, ap-70,0000 and as10,000. But in this scenario wages are totally rigid and cannot adjust this year from its orig level (i.e. when ap=100,000 and as10,000):...
demand and supply Question 7 1 points Save Answer Consider the following labor market Labor demand:...
demand and supply
Question 7 1 points Save Answer Consider the following labor market Labor demand: LD = ad-w Labor supply: LS = as - 2w where w is the wage, L is the number of workers, ap and as are constants Now suppose that business owners predict low sales next year so they reduce hiring and as a result, ap=70,000 and as=10,000. But in this scenario wages are totally rigid and cannot adjust this year from its original level...
Consider the following labor market Labor dernand: LD ap- w Labor supply: LS = as+ 2w...
Consider the following labor market Labor dernand: LD ap- w Labor supply: LS = as+ 2w where w is the wage, L is the number of workers, ap and as are constants Now suppose that business owners predict low sales next year so they reduce hiring and as a result, ap 70,000 and ag 10,000. But in this scenario wages are totally rigid and cannot adjust this year from its original level (i.e. when ap=100,000 and as10,000): find the equilibrium...
Consider the following labor market Labor demand: LD = ap - w Labor supply: LS =...
Consider the following labor market Labor demand: LD = ap - w Labor supply: LS = as + 2w where w is the wage, L is the number of workers, ap and as are constants Now suppose that business owners predict low sales next year so they reduce hiring and as a result, ap=70,000 and ag=10,000. But in this scenario wages are totally rigid and cannot adjust this year from its original level (i.e. when ap=100,000 and ag=10,000): find the...
where w is the wage, L is the number of workers, aD and aS are constants...
where w is the wage, L is the number of workers, aD
and aS are constants
Suppose business owners predict low sales next year, so they
reduce hiring. As a result, aD=70,000 and
aS=10,000.
Using the diagram for the labor market, answer what would happen
to the demand and supply curves:
Question 3 Consider the following labor market Labor demand: LD - ad-w Labor supply: LS = 35 + 2w where w is the wage, L is the number of...
Problem #4: Own-price elasticity Suppose the market labor demand curve is given by LD 20- (1/2)W...
Problem #4: Own-price elasticity Suppose the market labor demand curve is given by LD 20- (1/2)W and the market labor supply curve is given by LS-2W 1. Graph the labor demand curve and the labor supply curve on the same graph (with L on the horizontal axis and W on the vertical axis, as we have done in class). 2. Determine the equilibrium employment (L") and wage (W") in this market. Now suppose the government implements a minimum wage (WM)...
Problem #4: Own-price elasticity Suppose the market labor demand curve is given by LD-20-(1/2)W and the...
Problem #4: Own-price elasticity Suppose the market labor demand curve is given by LD-20-(1/2)W and the market labor supply curve is given by LS-2 1. Graph the labor demand curve and the labor supply curve on the same graph (with L on the horizontal axis and W on the vertical axis, as we have done in class) 2 Determine the equilibrium employment (L') and wage (W) in this market 3. Now suppose the government implements a minimum wage (WM) of...
Problem #4: Own-price elasticity Suppose the market labor demand curve is given by LD = 20-(1/2,W...
Problem #4: Own-price elasticity Suppose the market labor demand curve is given by LD = 20-(1/2,W and the market labor supply curve is given by LS 2 1. Graph the labor demand curve and the labor supply curve on the same graph (with L on the horizontal axis and W on the vertical axis, as we have done in class) 2. Determine the equilibrium employment (L and wage (W in this market 3. Now suppose the government implements a minimum...
Suppose in a particular labor market, the demand for labor is given by the equation LD...
Suppose in a particular labor market, the demand for labor is given by the equation LD = 120 – 3W and that the labor supply in this market for native-born citizens is given by LN = 3W, while the supply curve of immigrants in this market is given by LI = 2W, where L represents the number of workers, W is the wage expressed in real terms.
9. Suppose that a monopsony faces a labor supply curve of Ls-2+2w. What wage does the...
9. Suppose that a monopsony faces a labor supply curve of Ls-2+2w. What wage does the firm paw if it wants to hire 10 workers? b. What is the marginal expense of hiring an 10 worker? c. Draw a sample (or the exact) Labor Supply curve. Now add in a sample, ME curve and MRP curve such that the equilibrium is at 10 workers and at the wage from part a. Label the equilibrium level of employment and the equilibrium...
equilibrium wage?
Question 6 1 points Save Answer Consider the following labor market Labor demand: Lap- w Labor supply: LS as 2w where w is the wage, Lis the number of workers, ap and as are constants Now suppose that business owners predict low sales next year so they reduce hiring and as a result, ap-70,0000 and as10,000. But in this scenario wages are totally rigid and cannot adjust this year from its orig level (i.e. when ap=100,000 and as10,000):...
demand and supply
Question 7 1 points Save Answer Consider the following labor market Labor demand: LD = ad-w Labor supply: LS = as - 2w where w is the wage, L is the number of workers, ap and as are constants Now suppose that business owners predict low sales next year so they reduce hiring and as a result, ap=70,000 and as=10,000. But in this scenario wages are totally rigid and cannot adjust this year from its original level...
Consider the following labor market Labor dernand: LD ap- w Labor supply: LS = as+ 2w where w is the wage, L is the number of workers, ap and as are constants Now suppose that business owners predict low sales next year so they reduce hiring and as a result, ap 70,000 and ag 10,000. But in this scenario wages are totally rigid and cannot adjust this year from its original level (i.e. when ap=100,000 and as10,000): find the equilibrium...
Consider the following labor market Labor demand: LD = ap - w Labor supply: LS = as + 2w where w is the wage, L is the number of workers, ap and as are constants Now suppose that business owners predict low sales next year so they reduce hiring and as a result, ap=70,000 and ag=10,000. But in this scenario wages are totally rigid and cannot adjust this year from its original level (i.e. when ap=100,000 and ag=10,000): find the...
where w is the wage, L is the number of workers, aD
and aS are constants
Suppose business owners predict low sales next year, so they
reduce hiring. As a result, aD=70,000 and
aS=10,000.
Using the diagram for the labor market, answer what would happen
to the demand and supply curves:
Question 3 Consider the following labor market Labor demand: LD - ad-w Labor supply: LS = 35 + 2w where w is the wage, L is the number of...
Problem #4: Own-price elasticity Suppose the market labor demand curve is given by LD 20- (1/2)W and the market labor supply curve is given by LS-2W 1. Graph the labor demand curve and the labor supply curve on the same graph (with L on the horizontal axis and W on the vertical axis, as we have done in class). 2. Determine the equilibrium employment (L") and wage (W") in this market. Now suppose the government implements a minimum wage (WM)...
Problem #4: Own-price elasticity Suppose the market labor demand curve is given by LD-20-(1/2)W and the market labor supply curve is given by LS-2 1. Graph the labor demand curve and the labor supply curve on the same graph (with L on the horizontal axis and W on the vertical axis, as we have done in class) 2 Determine the equilibrium employment (L') and wage (W) in this market 3. Now suppose the government implements a minimum wage (WM) of...
Problem #4: Own-price elasticity Suppose the market labor demand curve is given by LD = 20-(1/2,W and the market labor supply curve is given by LS 2 1. Graph the labor demand curve and the labor supply curve on the same graph (with L on the horizontal axis and W on the vertical axis, as we have done in class) 2. Determine the equilibrium employment (L and wage (W in this market 3. Now suppose the government implements a minimum...
9. Suppose that a monopsony faces a labor supply curve of Ls-2+2w. What wage does the firm paw if it wants to hire 10 workers? b. What is the marginal expense of hiring an 10 worker? c. Draw a sample (or the exact) Labor Supply curve. Now add in a sample, ME curve and MRP curve such that the equilibrium is at 10 workers and at the wage from part a. Label the equilibrium level of employment and the equilibrium...
Most questions answered within 3 hours.
-
3) What are the typical social structures in a global city?
asked 54 minutes ago -
Luther Corporation
Consolidated Balance Sheet
December 31, 2019 and 2018 (in $ millions)
Assets
2019
2018...
asked 56 minutes ago -
(Expected rate of return and risk) Carter Inc. is evaluating a
security. Calculate the investment’s expected...
asked 3 hours ago -
What specific indicators can point to lack of progress for
African Americans in American society?
asked 4 hours ago -
1-The Electrons in a beam are moving at 2.7×108 m/s in an
electric field of 15000...
asked 4 hours ago -
A gas tank is a vertical cylinder. It has a radius of 1m, a
height of...
asked 5 hours ago -
Accent Software faces the following conditions. All of these
support Accent’s use of a market-penetration pricing...
asked 6 hours ago -
A mathematically inclined friend emails you the following
instructions: "Meet me in the cafeteria the first...
asked 6 hours ago -
A monopoly sells in two countries . The demand curves in the two
countries are p1...
asked 7 hours ago -
A .15kg rubber ball is bounced off a wall. Before hitting the
wall, the ball moves...
asked 7 hours ago -
A manufacturing company preparing to build a new plant is
considering three potential locations for it....
asked 8 hours ago -
B. If compound Y has approximately the same values of solubility
in toluene as compound X,...
asked 8 hours ago