1-Sided Search Model Using the one-sided labor market search model from class, explain graphically and in words the effects of the following changes in the economic envi- ronment on the reservation wage and on the long run unemployment rate. 1. an increase in the separation rate, s. 2. an increase in total factor productivity. (Assume that this shifts the distribution of wages to the right.) 3. an increase in the duration of unemployment required before being eligible for unem- ployment insurance benefits.

refer to the following diagram. Suppose that all other nonwage aspects of the jobs in fhese two markets are identical. We would expect labor supply in B to increase if there are better prospects for advancement in A True of False. Explain

Explain how the wage can adjust to balance thesupply and demand for labor while simultaneouslyequaling the value of the marginal product oflabor.

Consider an economy with two labor markets—onefor manufacturing workers and one for serviceworkers. Suppose initially that neither is unionized.a. If manufacturing workers formed a union, whatwould you expect to happen to the wages andemployment in manufacturing?b. How would these changes in the manufacturinglabor market affect the supply of labor in themarket for service workers? What would happento the equilibrium wage and employment in thislabor market?

the second picture is in continuation of the first. Because the full question was not visible in the first picture

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please question C D E

Leadbelly Co. sells pencils in a perfectly competitiveproduct market and hires workers in a perfectly compel·ilive labor market. Assume tha t the market wage ra le forworkers is $150 per day.a. What rule should Leadbcily follow to hire theprofit-maximizing ammmt ol labor?b. Al the profit-maximizing level of output, the marginal product of the last worker hirro is 30 boxesof pencils per day. Calculate the price of a box ofpencils.c. Draw a diagram of the labor market fo r pencil wo.rkers (as in Figure 4 ol this chapter) next to a diagramof the labor supply and demand for Leadbelly Co. (asin Figure 3). Label the equilibrium wage and quanti tyof labor lor both the market and the lirm. How arethese d iagrams related?d. Suppose some pencil workers switch to jobs in thegrowing computer industry. On the sidc,-by-5idediagrams from part (c), show how this changeaffects the equilibrium wage and quantity o( laborlor both the pencil market and lor Leadbelly. Howdocs this change affect the marginal…