Demand Supply, Microeconomics

Assignment Help:
Ask qIf the supply and demand curves for labor are represented by the following equations:
Wd= -- (1/100)Ld + 30
Ws= (1/200)Ls
Ws=Wd
Ld=Ld

a. Graph the results and show the equilibrium levels of both the wage and labor hours?
b. If the minimum wage were set at $25 what would the results in the market be?
c. Determine the amount of the surplus/shortage that was caused by the minimum wage?
d. How many jobs would be gained/lost?
e. Who would would benefit? Who would not?uestion #Minimum 100 words accepted#

Related Discussions:- Demand Supply

Externalities, What are corrective taxes? Why do economists prefer them to ...

What are corrective taxes? Why do economists prefer them to regulations as a way to protect the environment from pollution. Discuss

CONSUMER BEHAVIOR, DISCUSS THE HICKSIAN & SLUTSKIAN APPROACH TO CONSUMER BE...

DISCUSS THE HICKSIAN & SLUTSKIAN APPROACH TO CONSUMER BEHAVIOR WHERE THERE IS CHANGE IN PRICE OF ONE GOOD GIVEN TWO GOODS

Short run costs, A film studio in Hollywood produces movies according to t...

A film studio in Hollywood produces movies according to the function q = F(K;L) = (2=100)K^0.5L^0.5 In the short run, capital (studios, gear) is xed at a level of 100. It costs $

Macro , Suppose that nominal interest income is taxed at a rate of 30%. Cal...

Suppose that nominal interest income is taxed at a rate of 30%. Calculate the before-tax real interest rate and the after-tax real interest rate if the nominal interest rate is 6%

Market structures, #question.contrast the long run equilibrium position of ...

#question.contrast the long run equilibrium position of monopolistic competition firm and oligopoly.

Help, Calculate the number of moles in 15.8 grams of aluminum hydroxide

Calculate the number of moles in 15.8 grams of aluminum hydroxide

Managerial economies, Managerial Economies: These are many managerial...

Managerial Economies: These are many managerial economies associated with large-scale production. A large firm is in the position to employ more highly qualified and speciali

Nash equilibrium, Think of the Golden Ball game. Now player 1 is money-mind...

Think of the Golden Ball game. Now player 1 is money-minded and jealous, and player 2 is very good-hearted, so the payoff matrix is follows:                                Playe

Write Your Message!

Captcha
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