1.List each of the three broad forces that together determine the labour market outcomes (wages and the number of jobs) in the economy. Identify and explain which force is responsible for the fact that there is no supply of labour in the province of Ontario below the minimum wage.

2.The wage rate of an occupation fell by 5% over a year, while the number of jobs in that occupation has increased by 2% over the year. Write the proper formula for the coefficient of wage(price) elasticity of demand. Determine the coefficient of wage elasticity of demand based on the figures provided. Is the demand for these workers elastic or inelastic in this part of the demand curve? Explain

3.. The labour market has several special features that distinguish it from other markets. List three of these features stated in the textbook. Select one feature and explain in detail the implication it has for the hiring organization.

4.. Assume you are a sales manager who has to decide whether an additional salesperson shouldether to be hired and if so in which of the company's twelve sales districts should that person be employed. Recall that Profit = Revenue - Costs. What economic concept would you use to make your decision? Explain how you would justify your decision to your boss using this concept.