Find equilibrium wage, Explain a possible cause for the

Find equilibrium wage

Assignment Help Econometrics

Reference no: EM13177361

Aggregate labor market for B&B professionals

(y=Af(K,L))

For 1 & 2 find equilibrium wage, equilibrium Nd, Equilibrium Ns

1. MPN = 200,000 - 5Nd

-5000 + 0.8w = Ns

2. MPN = 200,000 - 5Nd

Ns' = 5,000 + 0.8w

3. Explain a possible cause for the change in Ns

4. Estimate the elasticity of demand for B&B professionals in the macroeconomy (calculation and explanation)

5. Graph the two equilibrium conditions 2 X-intercept for Ns; Y-intercept and X-intercept for Nd

Reference no: EM13177361

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