What happens to employment and the wage in southern state

Assignment Help Business Economics
Reference no: EM13838656

Suppose that after the wage goes up in the Northern state, workers lose their jobs in the North and decide to move to the Southern state. This increases the population there. Adjust the graph to show what happens to employment and the wage in this Southern state.

Reference no: EM13838656

Questions Cloud

According to tournament theory : According to tournament theory:
Is the demand for corn elastic or inelastic-why : Graph the demand curve on a standard supply and demand graph. What is the quantity demanded of corn at a price of $6.00 per bushel? at $4 per bushel? Using the midpoint formula for the price elasticity of demand, calculate the price elasticity of dem..
Governments often to raise revenues to fund public projects : Governments often need to raise revenues to fund public projects like schools, road maintenance, parks, etc. One way governments raise revenue is to place taxes on the sale of certain goods. Suppose a government is debating whether to raise taxes on ..
What happens to total revenues from oranges due to freeze : Suppose the demand for oranges in the U.S. is: P = 5.35 - .012 Q. Using the midpoint formula, what is the elasticity of demand for oranges at $3 per box? What happens to total revenues from oranges due to the freeze? Why?
What happens to employment and the wage in southern state : Suppose that after the wage goes up in the Northern state, workers lose their jobs in the North and decide to move to the Southern state. This increases the population there. Adjust the graph to show what happens to employment and the wage in this So..
Planning is critical for successful project management : Planning is critical for successful project management. Describe the various strategies you would use if you were responsible for managing the Webster University graduation ceremony in the spring.
What MARR does the investment represent : A college graduate with a B.S. in Mechanical Engineering expects to earn, on average, $20,000 per year more than an engineer without a B.S. degree. what MARR does the investment represent? Is it a high or low rate of return compared to, say a student..
Stackelberg and cournot competition : Apple put on the first smartphone, making them the Stackelberg leader. Samsung, HTC and Sony release their smartphones some time later. Consider the market competition game between these three companies. Characterize the output level for each firm an..
Calculate the price elasticity of demand of gasoline : Explain how you would calculate the price elasticity of demand of gasoline? In general terms, explain how consumer and producer surplus will change as a result of this price increase?

Reviews

Write a Review

Business Economics Questions & Answers

  How would you extend the above narrative to businesses

Suppose that they are thinking of each specializing completely in the area in which they have a comparative advantage, and then trading at a rate of 2.5 pounds of potatoes for 1 chicken, would they each be better off

  Characterized by scale of economies

Is there any range of production characterized by scale of economies. At Illustrate what production level are scale economies exhausted.

  Determine the optimal price and output for the firm

The settlement requires KopyKat to pay the employee $10,000 per month for the next year. Determine the optimal price and output for the firm under these new conditions.

  Illustrate what would the price of wheat be in absence

A firm sells a product in a purely competitive market. Illustrate what would the price of wheat be in the absence of trade.

  Long-lasting drought in the first decade

With Australia going through a long-lasting drought in the first decade of the 21st century, serious concerns were raised about the possibility of running out of water.

  Discuss at least two pricing strategies

You operate a small but popular and profitable restaurant/bar in a college town. There are several other restaurants and bars nearby. You have conducted a market research study and discovered that the price elasticity of demand for local residents is..

  Explain how governments can contribute policies

explain how governments can contribute, or discourage long run growth through their policies and institutions.

  Human nature in the background of all our discussions

We are always to keep the question of human nature in the background of all our discussions. Each author of the texts we read has a philosophy about human nature. Some assume universal elements that cut across all individuals, times, and cultures; o

  Explain how a group of nations could develop a cartel

Explain how a group of nations could develop a cartel to maximize their profits of COFFEE. Be sure to address natural resources and/or factor endowments that could be leveraged in the creation of the cartel.

  Proper balance between free market and government regulation

What do you believe is the proper balance between the free market and government regulation of industry? And why?

  Why james would rather have sure instead of a gamble

Putting utility on the y-axis and wealth on the x-axis, use a graph to show why James would rather have $100 for sure instead of a gamble where he gets $20 20% of the time and $120 the rest of the time.

  How do asymmetric information affect future of health care

Moving beyond this particular episode, briefly discuss how do asymmetric information, adverse selection, and moral hazard affect the future of health care policy in the United States.

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd