Determine the providers equilibrium wages

Assignment Help Econometrics

Reference no: EM13224064

The following is a labor supply function: Wage per hours - quantity of nurse supplied $2 - 1, $4 -2, $6 -3, $8-4, $10 -5, $12-6. Nurses used by the clinic to provide clinic visits. Each visit brings in $2 in revenue for the clinic. The relationship between nursing units and clinic visits is as follows: Quantity of nurses - total clinic visits 1-5,2-9,3-12,4-14,5-15 .The providers is assumed to maximize profits. Determine the provider' equilibrium wages? and how many nursing units it will hire? The provider is a monopolist, which means it is the sole purchaser of labor in the market.

Reference no: EM13224064

Questions Cloud

Explain what is the final temperature of the solution : NH4NO3 absorbs 25.69KJ of heat per mole dissolved in water. In a coffee-cup calorimeter, 5.60 g NH4NO3 is dissolved in 100.0g of water at 22.0C(temp). What is the final temperature of the solution? Assume that the solution has a specific heat capa..

Describe ways that managers can process the information : Describe ways that managers can process the information they collect.

The concentration of the reactant in a first-order reaction : It takes 171 minutes for the concentration of the reactant in a first-order reaction to decrease from 0.6000 M to 0.150 M at 25 C? How long will it take for the reaction to be 90.0% complete

Identify and describe the characteristics and costs : Identify and describe the characteristics and costs of useful information.

Determine the providers equilibrium wages : The relationship between nursing units and clinic visits is as follows: Quantity of nurses - total clinic visits 1-5,2-9,3-12,4-14,5-15 .The providers is assumed to maximize profits. Determine the provider' equilibrium wages and how many nursing u..

Discuss the strategic importance of information : Discuss the strategic importance of information.

What is the difference between data and information : What is the difference between data and information? Why is the distinction important?

Explain naof beyond the equivalence points : NaOH and then 25.0mL of 0.5 M of your weak acid HA with 0.500M NaOH. How would the titration curves compare at 10 or 15 mL of NaOF beyond the equivalence points

What is probability that wrestler will weigh less pounds : The weight of wrestlers is normally distributed with a mean of 205 pounds and a standard deviation of 20 pounds. What is the probability that a particular wrestler will weigh less than 210 pounds

User Account

All Pages