User Account

All Pages

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

Demand, elasticity of demand

elasticity of demand

Markets forces supply and demand, what does it mean by a normal good ?

what does it mean by a normal good ?

Scacity, if a commodity has limited demand , should economist say that we s...

if a commodity has limited demand , should economist say that we still have a scarcity ?

Production theory and analysis in managerial economi, dicuss the relevance ...

dicuss the relevance of studing production theory and analysis inn your career as a student of manegerial economics

., wHEN WAGE IS $6.05, HOW MANY HOURS ARE WORKED A WEEK?

wHEN WAGE IS $6.05, HOW MANY HOURS ARE WORKED A WEEK?

Shortage, Shor tage A condition under that the quantity demanded fo...

Shor tage A condition under that the quantity demanded for a good or service exceeds the available supply for that good or service. Shortages usually cause a rise in price

Define the price ceiling, Define the price ceiling A price ceiling is a h...

Define the price ceiling A price ceiling is a highest price that sellers can charge for a product.

Revenue, what is the meaning of total revenue?

what is the meaning of total revenue?

Production possibility curve, what are things you need to look in manner of...

what are things you need to look in manner of functions,elements,purpose,types and definitions?

Public good , Graphically illustrate how society decides on the number of p...

Graphically illustrate how society decides on the number of police officers to hire

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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