Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

NEWS WIRE LABOR SUPPLY Thousands of Job Seekers Brave Heat to Get Amazon Jobs Baltimore, MD. The line started forming at 4 a.m. By 8

image text in transcribed
image text in transcribed
NEWS WIRE LABOR SUPPLY Thousands of Job Seekers Brave Heat to Get Amazon Jobs Baltimore, MD. The line started forming at 4 a.m. By 8 a.m. there were over 3,000 people in the line snaking around Amazon's fulfillment center. Despite 85-degree heat and equally high humidity, these people were willing to stand in line for hours, just for a chance to land a job at Amazon's local fulfillment center. By the end of the day, over 4,500 job-seekers had applied for the 1,200 jobs Amazon had posted, which pay wages of around $14 an hour. Amazon held similar job fairs in 11 other cities around the nation, promising to hire as many as 50,000 new employees. Source: News accounts of August 2-4, 2017. a. What was the apparent market surplus at the Amazon job fair? ....... people b. If Amazon decreased wages to $12 per hour, what do you predict will happen to that market surplus? It would decrease

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_2

Step: 3

blur-text-image_3

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

Microeconomics

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

3rd Edition

1319105564, 978-1319105563

More Books

Students also viewed these Economics questions

Question

1. Too understand personal motivation.

Answered: 1 week ago