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Name some factors that can cause a shift in the
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- The government puts in place a regulation stating that anyone accused of a crime must be represented by a bar-certified lawyer. The bar is a very challenging examinationHow does this impact the demand for bar tutors?$30 a week boost to minimum wage The government has increased the minimum wage by $30 a week to $570 a week. Unions wanted a $35 a week increase, but employers argued that that level of increase was unaffordable and would send smaller firms to the wall. Source: ABC Australia, February 11, 2 On a graph of the market for low-skilled labor, show the effect of the $30 a week increase in the minimum wage on employment of low-skilled labor. The graph shows the market for low-skilled labor. The y-axis label is and the x-axis label is Draw a point on the market supply curve and label it S. Draw a point on the market demand curve and label it D. Draw a point to show the wage rate and workers employed if the minimum wage is set at: 1) $540 a week. Label the point 1. 2) $570 a week. Label the point 2. Draw an arrow to show the change in employment from the increase in the 590- 580- 570- 560- 550- 540- 530- 520- 510- 980 Y 990 1000 X 1010 1020 >>> Draw only the objects specified in the question.…The following graph shows the labor market in the fast-food industry in the fictional town of Supersize City. In a labor market, workers supply their labor to the market in exchange for wages, and their behavior is represented by the supply curve. Similarly, firms pay wages to obtain labor, and thus their behavior is represented by the demand curve. In this way, wages are the price of labor. For each of the wages listed in the following table, determine the quantity of labor demanded, the quantity of labor supplied, and the direction of pressure exerted on wages (upward or downward) in the absence of any price controls. Wages: 12 Wages: 8
- The table shows the market for house painters in Quantity demanded Quantity supplied New Mexico. Wage rate (dollars per hour) If New Mexico introduces a strictly enforced minimum wage for house painters of $13.00 an hour, how many house painters are employed and how many are unemployed? (house painters) 10.00 300 150 11.00 250 175 What is the lowest wage at which some house painters would be willing to work? 12.00 200 200 13.00 150 225 14.00 100 250 15.00 50 275 If New Mexico introduces a strictly enforced minimum wage for house painters'of $13.00 an hour, house painters are employed and house painters are unemployed. The lowest wage at which some house painters would be willing to work is $ an hour. ncem Due As ent Ass EB O Time Remaining: 00:59:15 Next ompleted A 1-significant figures and units of measure PS Macintosh HD » Users » justinroditti » Downloads Feb 7 This course (EC Can Q Search or enter website name & 3 4 5 6 8 E R Y U 一 P D F G H J K C V N M nd commandshould the federal government raise the minimum wage? ExplainThe following graph gives the labor market for laboratory aides in the imaginary country of Sophos. The equilibrium hourly wage is $10, and the equilibrium number of laboratory aides is 150. Suppose the federal government of Sophos has decided to institute an hourly payroll tax of $4 on laboratory aides and wants to determine whether the tax should be levied on the workers, the employers, or both (in such a way that half the tax is collected from each party). Use the graph input tool to evaluate these three proposals. Entering a number into the Tax Levied on Employers field (initially set at zero dollars per hour) shifts the demand curve down by the amount you enter, and entering a number into the Tax Levied on Workers field (initially set at zero dollars per hour) shifts the supply curve up by the amount you enter. To determine the before-tax wage for each tax proposal, adjust the amount in the Wage field until the quantity of labor supplied equals the quantity of labor demanded. You…
- i need help with this question 5 from my microeconmics assigments. i have already gotten it wrong twice.The graph plzThe following graph gives the labor market for laboratory aides in the imaginary country of Sophos. The equilibrium hourly wage is $10, and the equilibrium number of laboratory aides is 250. Suppose the federal government of Sophos has decided to institute an hourly payroll tax of $4 on laboratory aides and wants to determine whether the tax should be levied on the workers, the employers, or both (in such a way that half the tax is collected from each party). Use the graph input tool to evaluate these three proposals. Entering a number into the Tax Levied on Employers field (initially set at zero dollars per hour) shifts the demand curve down by the amount you enter, and entering a number into the Tax Levied on Workers field (initially set at zero dollars per hour) shifts the supply curve up by the amount you enter. To determine the before-tax wage for each tax proposal, adjust the amount in the Wage field until the quantity of labor supplied equals the quantity of labor demanded. You…
- An increase in the minimum wage will tend to cause which of the following to occur? Select one: a. an increase in the size of the surplus of labor b. a rightward shift in the supply of labor O c. a leftward shift in the demand for labor O d. a reduction in the unemployment rateSuppose labor demand for low-skilled workers in the United States is w = 35 – 0.2Ewhere E is the number of workers (in millions) and w is the hourly wage. There are 100 million domestic U.S. low-skilled workers who supply labor inelastically. If the U.S. opened its borders to immigration, 25 million low-skill immigrants would enter the U.S. and supply labor inelastically. What is the market-clearing wage if immigration is not allowed? What is the market-clearing wage with open borders?how would you approach the questions?
