FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume that a labor market has the following supply and demand functions: L3=211+7W LD=650-3W where W is the wage. Insurance is added as a benet

image text in transcribed
image text in transcribed
Assume that a labor market has the following supply and demand functions: L3=211+7W LD=650-3W where W is the wage. Insurance is added as a benet for employees. Employers pay $19 per employee for insurance and the employees value the insurance at $14. What is the new wage with insurance? ROUND TD TWO DECIMAL PLACES

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics

Macroeconomics

Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson

3rd Canadian edition

1319120083, 1319120085, 1319190111, 9781319190118, 978-1319120054

More Books

Students also viewed these Economics questions

Question

★★★★★
Jarome Tacks operates Jaromes Cleaning Service. As the bookkeeper, you have been requested to journalize the following transactions: 201X Aug. 1 Paid rent for two months in advance, $10,000. 6...

Answered: 1 week ago

Question

★★★★★
Consider the system x=Ax where A is given by [ A= -b3 0 0 1 0 1 l 0 -b2 -bl (A is called the Schwar-z matn::r.) Show that the fir-st column of the Routh's ar-my of the characteristic equation lsi- AI...

Answered: 1 week ago

Question

★★★★★
Consider an n-server parallel queuing system where customers arrive according to a Poisson process with rate , where the service times are exponential random variables with rate , and where any...

Answered: 1 week ago

Question

★★★★★
The owner of Bun N Run Hamburgers wishes to compare the sales per day at two locations. The mean number sold for 10 randomly selected days at the Northside site was 83.55, and the standard deviation...

Answered: 1 week ago

Question

★★★★★
8.00 points Park Corporation is planning to issue bonds with a face value of $2,100,000 and a coupon rate of 9 percent. The bonds mature in 10 years and pay interest semiannually every June 30 and...

Answered: 1 week ago

Question

★★★★★
Allison Ltd located in Figtree is producing and selling Clothes Dryers and expecting to produce 20 000 units of Dryers. Currently, Allison Ltd makes the motor in-house for its Dryers. The cost data...

Answered: 1 week ago

Question

★★★★★
Build a LP model for the following scenario, but don't solve the LP model that you made. A company manufactures two products whose unit profits are $17 and $15, respectively. The company has budgeted...

Answered: 1 week ago

Question

★★★★★
What is the intercept for the regression equation to forecast demand, in the worksheet: Food Truck Demand?

Answered: 1 week ago

Question

★★★★★
What milk or dairy preferences do you and your family have? Have they changed? Why or why not?

Answered: 1 week ago

Question

★★★★★
When should you avoid using exhaust brake select all that apply

Answered: 1 week ago

Question

★★★★★
A customer order entered into a Manufacturing system or Distribution system will document which the warehouse will need to action. What is the name of this Document?

Answered: 1 week ago

Question

★★★★★
Attorney Collins has received the complaint in Montgomery County (Maryland). He is too busy with other matters to dissect it now but has asked you to provide him a memorandum with the following...

Answered: 1 week ago

Question

★★★★★
1. Too reflect on self-management

Answered: 1 week ago

Question

★★★★★
Food supply

Answered: 1 week ago

Question

★★★★★
What is to be achieved for the individual is based on the companys needs.

Answered: 1 week ago

Previous Question Next Question