labor , Microeconomics

Assignment Help:
#questThe demand for and supply of labour in a certain industry are given by the equations

Nd = 400 - 2w
Ns = 240 + 2w

Where Nd ( is the number of workers employers want to hire )
Where Ns ( is the number of people willing to work, and both demand and supply depend on the real
wage w'' which is measured in dollars per day )
Question
1. Find employment and real wage in the labour market equilibrium
2. Suppose the minimum wage is $50 per day
(a) Find employment and total unemployment

(b) Is anyone made better by the minimum wage? anyone Worse off ? (consider workers, employers, society and taxpayers

(c) Instaed of a minimum wage, suppose there is unemployment benefit that pays $50 per day. Workers are indifferent between earning a wage of $50 per day and remaining unemployed and collecting the benefit.
Demonstrarte using work/leisure diagram that this unemployment benefit reduces incentives.ion..

Related Discussions:- labor

Ppc ., cars:0,2,4,6,8 tow truck:30,27,21,12,0

cars:0,2,4,6,8 tow truck:30,27,21,12,0

INTERMEDIATE MICRO ECONOMICS, AS STUDENT OF ECONOMICS ELABORATE ON THE KALD...

AS STUDENT OF ECONOMICS ELABORATE ON THE KALDOR-HISCKS COMPENSATION

The demand curve of monopoly, when does price and output determined in the ...

when does price and output determined in the unregulated monopoly

Borrowings, Borrowings: The widening fiscal gap led to a steep rise in...

Borrowings: The widening fiscal gap led to a steep rise in the outstanding liabilities of the Central Government. The outstanding domestic debt of the Central Government as a

What is meant by the identification problem, 1. What is simultaneous biases...

1. What is simultaneous biases? Discuss the cause of ednoginity in regression analysis. 2. Explains concisely what is meant by ' the identification problem'' in the context of l

Required the Detail Answer, Sir i am the student of MSC Economcis frin Dust...

Sir i am the student of MSC Economcis frin Dustabce University (AIOU)from Islamabad (Pakistan)my name is Mohammed Bilal Farooq and required the answer of the following questions Q

Preference to non-debt creating capital flows, Preference to Non-debt Creat...

Preference to Non-debt Creating Capital Flows: The most important element of strategy has been the paradigm shift in the attitude towards inflow of capital from abroad. Capit

What is yuen’s profit function, Yuen, a travelling salesman for snake oil, ...

Yuen, a travelling salesman for snake oil, can produce the stuff at a marginal cost of 1. There are 100 potential customers in Vernon, each of whom has the following demand functio

Complementary slackness condition, Consider the following linear program in...

Consider the following linear program in primal form and develop the dual formulation in a detailed manner. Use matrix notation in developing the dual. Clearly express all the dual

Price, hi i need price,cross and income elasticity of toyota corolla car. ...

hi i need price,cross and income elasticity of toyota corolla car. its only small part of the assignment topic so its need around 500 words. thanks ishwor

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