Rresult of the temporary imbalance

Assignment Help Business Economics

Reference no: EM131198268

In the mid 1980s female nurses became increasingly aware that a relatively large number of attractive job opportunities existed outside the medical service industry. In fact large number of colleges offered life and transfer credits for nurses so that they could change careers at less cost. Using an equilibrium model of the market for nurses, show what impact this market change had on the wage rate and employment of nures. Work through the comparative static analysis and explain whether a temorary shortage or surplus occured and the various market adjustments that took place as a result of the temporary imbalance. Please make answer detailed and approximately 400 words.

Reference no: EM131198268

Questions Cloud

What e act will this have on output per unit of labor : An electronics plant's production function is Q = 5LK, where Q is its output rate, L is the amount of labor it uses per period, and K is the amount of capital it uses per period. The price of labor is $1 per unit of labor, and the price of capital is..

Determine profit-maximizing level of output for facility : A monopolist’s inverse demand function is P = 150 – 3Q. The company produces output at two facilities; the marginal cost of producing at facility 1 is MC1(Q1) = 6Q1, and the marginal cost of producing at facility 2 is MC2(Q2) = 2Q2. a. Provide the eq..

How much revenue will each acre generate : Purely competitive wheat farmer can sell any wheat he grows for $20 per bushel. His five acres of land show diminishing returns because some are better suited for wheat production than others. Use the table below to answer the following questions. Ho..

Calculate the marginal cost of production : Kelson Electronics, a manufacturer of VCRs, estimates the following relation between its marginal cost of production and monthly output: MC = $150 + 0.005Q. What does this function imply about the effect of the law of diminishing returns on Kelson's ..

Rresult of the temporary imbalance : In the mid 1980s female nurses became increasingly aware that a relatively large number of attractive job opportunities existed outside the medical service industry. In fact large number of colleges offered life and transfer credits for nurses so tha..

Write a technical documentation on study & performance of : Write a Technical Documentation on "Study & Performance of Wearable Robot Knee Joint Oscillation Reduction"

Oligopolistic models are based on behavioral assumptions : Oligopolistic models are based on behavioral assumptions. One behavioral assumption associated with differentiated product markets is that price increases will not be matched, but price decreases will be matched. Suppose Firm A controls 50% of the ma..

Government budget-current account-domestic interest rates : The Chinese government managed the value of the chinese yuan relative to the US.between 1995 -2005 the yuan was pegged to the dollar at a rate of 8.28 yuan per US. China's central bank is responsible for using monetary policy to defend the fixed exch..

Self-employed physical therapist : Lisa is a self-employed physical therapist who works from a rented space. Lisa charges $250 for a therapy session. She incurred the following costs last month: space and equipment rental, $1200; wages, $3500; materials, $2000. If Lisa’s profit last m..

User Account

All Pages