a. Use the information in the table to graph the demand and supply curves for judicial law clerks.Wage ($ per hour)40383634323028262422911131517Quantity (thousands of workers)19Labor supplyLabor demandb. The equilibrium quantity of judicial clerks is2123thousand, and the equilibrium wage isper hour. Judicial law clerks assist judges in court, conduct research for judges, and prepare legal documents. Suppose the market forjudicial law clerks in the United States is as provided in the accompanying table.Wage ($per hour)$24$26$28$30$32Quantity supplied(thousands of workers)1113151719Quantity demanded(thousands of workers)1917151311

Given,WageSuppliedDemanded241119261317281515301713321911Supply and demand, in economics, the…

Answered: a. Use the information in the table to…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Allison is debating about hireing Jim for a new Position at her firm producing computer software. She estimates that Jim will add an additional $500 of revenue a day to her firm. a. what is the maximum wage at which Allison would be willing to hire Jim? $ ______ a day b. Suppose demand for computer software increases. This increases the value of Jim's contributions to the firm to $650. what is the maximum wage at which Allison would be willing to hire Jim? $ ____ a day c. Suppose some of the firm's capital is outdated and workers no longer have the ability to be as productive. This reduces Jim's contributions to the firm to $400. What is the maximum wage at which Allison would be willing to hire Jim? $ ____ da day d. Suppose Jim obtains a additional eduction that leads to him being more productive. This increases the value of Jim's contributions to the firm to $750. What is the maximum wage at which Allison would be willing to hire Jim? $ ____ a day
What is rent control?
Write a sentence or two defining the following terms in your own words. Give examples of each. j. Dishonest workers k. Elastic Demand l. Entrepreneurship
Economics 4. Assume men and women are perfect substitutes. Across employers there is a distribution of the discrimination coefficient against women of -0.2 to 0.5. In a graph with female employment on the x-axis and the gender wage ratio on the y-axis answer the following. a. What would be the "y-intercept" of the Demand curve? b. Assume female labor supply is perfectly inelastic. Show on this graph equilibrium where women and men are paid equally. c. A bizarre disease starts leading to more women being born then men. How will this eventually affect the gender wage gap if there are no simultaneous demand shocks?
The figure on the right shows a hypothetical market for NFL-caliber punters. The NFL will hire punters. Salary($ million per punter) $5.5 $5- $4.5 $4- $3.5- $3- $2.5 Market for NFL-caliber punters $2+ 20 22 24 26 28 30 32 34 Number of punters D 36 $ .00 38
Explain the function of a SLAPP. Do you think this is an appropriate way to influence persons to not sue a company?
Refer to the following graph of the demand for and supply of armed forces personnel. Da Wage B A E CS с F D 0 HG The height of the supply curve (5) measures the cost to taxpayers of drafting a worker. the value to the military of drafting a worker. the difference between the cost to the taxpayer and the cost to the military of drafting a worker. the opportunity cost of a potential draftee Labor
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Female workers tend to earn a lower wage compared to their male counterparts when performing the same job. What is this an example of? a.Signaling b.All of the answers are correct c.Discrimination d.Screening
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