Question
LS = 60W - 120 (or, equivalently W = LS/60 + 2) Labor demand is given by LD = 750 - 25W (or, equivalently W
LS = 60W - 120 (or, equivalently W = LS/60 + 2)
Labor demand is given by
LD = 750 - 25W (or, equivalently W = -LD/25 + 30)
a) What is the equation for marginal revenue? (2)
b) Using the supply and demand equations, compute the wage rate and number of workers that would be hired when there is no union representation. (3)
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The Economics of Women Men and Work
Authors: Francine D. Blau, Marianne A. Ferber, Anne E. Winkler
7th edition
978-0190670863, 019067086X, 132992817, 978-0132992817
