6. Contrasting labor union laws in two statesConsider two states that adopt different laws conceming labor unions.The following graph shows the labor market in a state in the North. Initlally, the market-dearing wage there is $8.00 per hour.Suppose that the legislature in this northem state passes laws that make it easy for workers to join a union. Through collective bargalning, the unionnegotiates a wage of $10.00 per hour.Use the graph Input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.Graph Input ToolMarket for Labor16Wage(Dollars per hour)14Supply2.00Labor Demanded(Thousands ofworkers)12Labor Supplied(Thousands ofworkers)1,40020010Demand2200 400 600 800 1000 1200 1400 1600LABOR (Thousands of workers)Enter $10.00 Into the box labeled WVage on the previous graph.Hint: Be sure to pay attention to the units used on the graph.At the union wage,union workers will be employed.The following graph shows the labor market In a state in the South. The legislature In this state passes strong "right-to-work" laws that make it verydifficult for unions to organize workers, so the wage is always equal to the market-dearing value. Except for this difference in legislation, the twostates are very similar.The Initlal position of the graph corresponds to the Initial labor market condition in the southern state before the labor unlon negotlated the new,higher wage for workers in the northern state.Suppose that after the wage goes up In the northem state, some workers In the northern state lose their jobs and decide to move to the southernstate.Adjust the graph to show what happens to employment and wages in the southern state.(?)SupplyDemandSupplyDemandLABORWhich of the following groups are worse off as a result of the unlon action In the northern state? Check all that apply.O All workers In the northern stateO The original workers in the southern stateEmployers in the northem stateO workers who find new jobs in the southem stateWAGE (Dolars per hour)

At the union wage, there will be unemployment and unemployed workers will move to the Southern…

Answered: Consider two states that adopt…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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E5
Suppose that a car factory initially hires 1,600 workers at $20 per hour and that each worker works 40 hours per week. Then the factory unionizes, and the new union demands that wages be raised by 25 percent. The firm accedes to that request in collective bargaining negotiations but then decides to cut the factory’s labor force by 30 percent due to the higher labor costs.
You are HR di, ector for a growing law firm in Tampa, Florida, which cu."ently has need of writing 30 legal briefs every hour. Each of your company's attorneys can write on average five briefs per hour. You are consid ring hiring four paralegals to shoulder the load; each pa alegal is a bit slower than the attorneys and can write on average only 2.5 briefs per hour. You scan the current wages in the Tampa area and notice that the attorneys in your company earn the local occupational median wage of $41.64 per hour, but that the prospective four paralegals will likely want to get paid their local occupational median wage of $23.66 per hour. a. Would /our company save money in the writing of the 30 legal briefs by hiring the four paralegals and firing some attorneys? b. The local Tampa Paralegal Union has observed that the Bureau of Labor Statistics projects that employment of paralegals over the next decade will rise considerably faster than the employment of lawyers…
address the following prompt: Explain the paradox that establishing a union can increase both wages and employment, but once the union is established it must trade off increases in one for the other.
Give typing answer with explanation and conclusion Question: Like social security, the Fair Labor standards Act a) All of these b) Applied to workers in large-scale enterprises c) Did not apply to women in domestic labor jobs D) did not apply to farm workers
Briefly describe "social movement" unionism. Discuss whether, in your judgment, the changes proposed by advocates of "social movement" unionism would result in significantly changed conditions for U.S. workers.
Solve for and fill in the missing portions of the following table to derive the monopsonist's derived demand curve for labor and answer the following question: Number of Total Physical Marginal Physical Product Marginal Revenue Workers Product Price Product 246 9,557.10 32.70 1 32.70 247 9,589.75 32.65 1 32.65 248 9,622.35 32.60 1 32.60 249 9,654.90 32.55 1 32.55 250 9,687.40 32.50 1 32.50 251 9,719.85 32.45 1 32.45 252 9,752.25 32.40 1 32.40 253 9,784.60 1 32.35 254 9,816.90 32.30 1 32.30 Question: What is the marginal revenue from hiring the 253rd worker? $32.40 $32.30 $32.35
Large unions have a number of organizing opportunities and launching organizing campaigns. 1) union organizers 2) regional representatives 3) chief stewards 4) bargaining delegates 5) labour representatives on staff who are responsible for identifying
5 List 3 specific things that happened in the period from 1875-1940 that had an effect on the American labor movement, and the effect they had.
Use the data in the tables to answer the question that follows. Market Price of Output Quantity Supplied of Output Quantity Demanded of Output $5 25,000 60,000 $10 50,000 50,000 $15 75,000 40,000 $20 100,000 30,000 $25 125,000 20,000 Firm Quantity of Labor Total Product 0 0 15 105 30 190 45 265 60 325 What is the marginal revenue product of the 45th unit of labor, assuming this market is perfectly competitive in both the factor and output markets? A-$30. B-$50. C-$63. D-$100. E-$2,650 (2) The marginal benefit to suppliers will be less than the marginal cost to the single buyer. This describes A-perfect competition. B-monopolistic competition. C-an oligopoly. D-a monopoly E-a monopsony
11) What is a monopsony? Show the graph of a monopsony with the going wage and number of workers employed.
1. How is the wage rate and level of employment determined if the labor market was controlled by a monopsonist. Discuss and explain in detail with the help of diagrams.

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