I need help with all please!
3) Suppose that the market wage for a childcare worker is $300 per day. According to the Aational Aule for Employers that we learned in class, how many workers should Patrick hire? A) 1 B) 2 C) 3 D) 4 4) McDonald's has been promoting the "McRib Farewell Tour", encouraging customers to purchase the sandwich and suggesting that it may soon be permanently removed from the menu. This is one of McDonald's many recent marketing moves that have led the Wall Street Journal to claim "McDonald's is Cool Asain"". That article notes that McDonald's is seeing increased visits to its stores and increased revenue. How would we expect this to affect the wages of McDonald's workers? A) Wages increase because labor demand increases B) Wages increase because labor demand decreases C) Wages increase because the supply curve of McRib sandwiches shifts to the right D) Wages increase because the labor supply curve shifts to the left 5) "Creator" was a hamburger restaurant opened in San Francisco in which the entire preparation of the hamburger was done by a machine. (The machine is shown above. A video of the machine in action can be found here.) If machines like the ones used at "Creator" become more common, we expect this to the wages of low-skill restaurant workers and the wages of high-skill programmers and engineers. A) Increase; Decrease B) increase; increase C) Decrease; Decrease D) Decrease; increase 6) The abeve graph from SoncertAcchives ors shews the number of concerts that Taylor Swift has performed each year, There is a general downward trend there (even ienering the pandemis-caused dip in 2020 and 2021). For example, in 2007 , she performed in 178 concerts. Otten she was the opening act for a more famous performer, so she made much less money per show than she makes new. The fact that Tayer gives fewer concerts now than she did in 2007 suggests that, for her, A) The income effect is larger than the substitution effect. B) The substitution effect is larger than the income effect. C) The substitution effect is equal to the income effect. D) Your opportunify cost of working is negative. 7) Kristen's hobbies mostly involve hanging out with big groups of people indoors - going to concerts, visiting restaurants, and going out dancing with her tritnds. During the 2020 pandemic, many of these eptions were unavailable to her due to government-mandated business closures. How did this affect Xristen's labor supply curve? (A couple notes: First, assume that the fabor demand curve for Kristen did not change. Second, use what we know about the opportunity cost of labor to answer this question) A) SNfted to the left B) Shitred to the right C) Movement "up" along the supply curve D) Movement "down" along the supply curve 8) What would cause the labor demand for hair stylists (shown above) to shift from the "Before" curve to the "After" curve? A) The equilibrium price of a haircut doubles B) The wages of baristas increase C) The taxes on halrcuts increase D) A haircutting robot is invented 9) Louisa owns a lawnmowing service. She hires high school students and college students to mow lawns for homes and businesses in the area. This summer, Louisa upgraded her lawnmower fleet by purchasing new mowers that are much faster and allow her employees to cut lawns in half the time. According to what we learned in class, how will this shift Louisa's labor demand? A) Labor demand shifts right B) Labor demand shifts left C) Labor demand is unaffected. 10) Kara owns a company that makes jackets. Her company is doing well and she's considering expanding by hiring more employees. However, she knows that if she hires more employees and increases her production, she will have to cut prices in order to sell more jackets. This is a good example of: A) Why labor demand slopes down B) Why Marginal Resource Cost is a horizontal line C) Why machinery is not a good substitute for high-skill labor D) Why marginal revenue product is upward sloping 3) Suppose that the market wage for a childcare worker is $300 per day. According to the Aational Aule for Employers that we learned in class, how many workers should Patrick hire? A) 1 B) 2 C) 3 D) 4 4) McDonald's has been promoting the "McRib Farewell Tour", encouraging customers to purchase the sandwich and suggesting that it may soon be permanently removed from the menu. This is one of McDonald's many recent marketing moves that have led the Wall Street Journal to claim "McDonald's is Cool Asain"". That article notes that McDonald's is seeing increased visits to its stores and increased revenue. How would we expect this to affect the wages of McDonald's workers? A) Wages increase because labor demand increases B) Wages increase because labor demand decreases C) Wages increase because the supply curve of McRib sandwiches shifts to the right D) Wages increase because the labor supply curve shifts to the left 5) "Creator" was a hamburger restaurant opened in San Francisco in which the entire preparation of the hamburger was done by a machine. (The machine is shown above. A video of the machine in action can be found here.) If machines like the ones used at "Creator" become more common, we expect this to the wages of low-skill restaurant workers and the wages of high-skill programmers and engineers. A) Increase; Decrease B) increase; increase C) Decrease; Decrease D) Decrease; increase 6) The abeve graph from SoncertAcchives ors shews the number of concerts that Taylor Swift has performed each year, There is a general downward trend there (even ienering the pandemis-caused dip in 2020 and 2021). For example, in 2007 , she performed in 178 concerts. Otten she was the opening act for a more famous performer, so she made much less money per show than she makes new. The fact that Tayer gives fewer concerts now than she did in 2007 suggests that, for her, A) The income effect is larger than the substitution effect. B) The substitution effect is larger than the income effect. C) The substitution effect is equal to the income effect. D) Your opportunify cost of working is negative. 7) Kristen's hobbies mostly involve hanging out with big groups of people indoors - going to concerts, visiting restaurants, and going out dancing with her tritnds. During the 2020 pandemic, many of these eptions were unavailable to her due to government-mandated business closures. How did this affect Xristen's labor supply curve? (A couple notes: First, assume that the fabor demand curve for Kristen did not change. Second, use what we know about the opportunity cost of labor to answer this question) A) SNfted to the left B) Shitred to the right C) Movement "up" along the supply curve D) Movement "down" along the supply curve 8) What would cause the labor demand for hair stylists (shown above) to shift from the "Before" curve to the "After" curve? A) The equilibrium price of a haircut doubles B) The wages of baristas increase C) The taxes on halrcuts increase D) A haircutting robot is invented 9) Louisa owns a lawnmowing service. She hires high school students and college students to mow lawns for homes and businesses in the area. This summer, Louisa upgraded her lawnmower fleet by purchasing new mowers that are much faster and allow her employees to cut lawns in half the time. According to what we learned in class, how will this shift Louisa's labor demand? A) Labor demand shifts right B) Labor demand shifts left C) Labor demand is unaffected. 10) Kara owns a company that makes jackets. Her company is doing well and she's considering expanding by hiring more employees. However, she knows that if she hires more employees and increases her production, she will have to cut prices in order to sell more jackets. This is a good example of: A) Why labor demand slopes down B) Why Marginal Resource Cost is a horizontal line C) Why machinery is not a good substitute for high-skill labor D) Why marginal revenue product is upward sloping