Calculate the pricing mark-up above marginal cost

Reference no: EM132199037

Question: Diagram the Perfectly Competitive (pc) Labor Market (both labor supply and demand). Identify Voluntary unemployment on the diagram. Introduce a new labor demand curve with an elasticity of 4. If the Marginal Product of Labor real wage is $20/hour, calculate the real wage actually received by workers under an elasticity of 4. Also, calculate the pricing mark-up above Marginal Cost.

Reference no: EM132199037

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