Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Most industrial farms hire migrant workers, so the market for such workers is reasonably taken to be perfectly competitive. Suppose that all farms individually have a short-run elasticity of labor demand of –0.5. In other words, if the wages of migrant workers in a local labor market rose by 10% (say, because many of those workers decided to work at a recently-opened nearby factory), the farms in the area would want to hire 5% fewer workers. Nevertheless, it is true that if the wages of migrant workers rose by 10% everywhere, employment of migrant workers would fall by less than 5 percent in the short run.
A. Explain why the reduction in employment would be less than 5 percent in the latter case.
B. In light of the short-run elasticity of demand for migrant workers, how easy do you think it would be for the industrial farms to replace the workers’ efforts by using the existing stock of farm machinery more intensely?
C. If the nationwide 10% wage increase were permanent, would the employment of migrant workers fall more in the short run or in the long run? Why?
Elucidate how each of the following people would talk about scarcity and trade-offs. The President of the United States and the leader of a developing nation.
Assume the U.S. government implements a policy that achieves the savings rate needed to achieve the golden rule level of capital.
Kaufmann's offers only an hourly wage. Do you expect Kaufmann's hourly wage to be higher or lower than Farleigh's.
Make sure to include any important points or conversions. Please provide a copy of the article when turning in the paper so it can be reviewed.
How can you justify existence of government-granted monopolies for such public utilities as local telephone service, natural gas.
A petroleum engineer estimates that the present production of 400,000 barrels of oil during this year from a group of 10 wells will decrease at the rate of 15% per year for years 2 through 10. Oil is estimated to be worth $25 per barrel. If the inter..
B involves the polluters in each region independently negotiating pollution deductions, assuming the other region is not undertaking pollution reduction.
q1. bobs lawn-mowing service is a competitive firm. at the current level of production the firm mows 10 lawns a day.
q.based on the production function parameter estimates reporteda. which industry or industries appears to exhibit
During the last year, the demand for books has been falling. At the same time, some industry observers expected that several smaller book manufacturers might exit the market due to the strong competition imposed by Kindle. Use a demand and supply gra..
1. explain the difference between the stackelburg and the cournot duopoly models. outline the process by which a
Discuss and describe the effect you have on this process when you visit the ATM to get some cash to pay for your late-night pizza.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd