Question
LaborSupplyandDemandGraph a)Drawthefollowinglaborsupplyanddemandcurvesinone graph.Labeleachaxis,eachcurve,theequilibriumlaborhoursemployed ( h ),andtheequilibriumwagerate( w ). LaborDemandCurve: h =41/2 w LaborSupplyCurve: h =1+1/2 w b)Calculatetheequilibriumwage rate( w )andtheequilibrium numberoflaborhoursemployed( h )inthismarket. c)Inyourgraph,drawaminimumwageat w
LaborSupplyandDemandGraph
a)Drawthefollowinglaborsupplyanddemandcurvesinone graph.Labeleachaxis,eachcurve,theequilibriumlaborhoursemployed (h),andtheequilibriumwagerate(w).
LaborDemandCurve:
h =41/2w
LaborSupplyCurve:
h =1+1/2w
b)Calculatetheequilibriumwage rate(w)andtheequilibrium numberoflaborhoursemployed(h)inthismarket.
c)Inyourgraph,drawaminimumwageatwl=$7.Inthe graph,indicatethenewequilibriumnumberoflaborhoursemployed(hl).
d)Undertheminimumwageofwl =$7,calculatethe new equilibriumamount oflaboremployed(hl)andthenewequilibriumwage rate (wl).
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Economic Change In Asia Implications For Corporate Strategy And Social Responsibility
Authors: M Bruna Zolin, Bernadette Andreosso O'Callaghan, Jacques Jaussaud
1st Edition
1317286650, 9781317286653
