PRICE Homework (Ch 4) WAGE RATE 1. The link between resource and product markets The following graph represents the labor market in the fast food industry, which consists mainly of high school and college students in a hypothetical economy. Suppose the government decides to impose a labor law that forbids employers from hiring students. Assume that this new legislation has no impact on the desire of students to remain in school. Assuming all other things are constant, show the effect of this legislation on the labor market for the fast food industry by shifting one or both of the curves in the following graph. Labor Market in the Fast Food Industry S Demand 52 Demand EMPLOYMENT IN FAST FOOD INDUSTRY Supply (?) The following graph shows the initial demand for and supply of fast food in this economy before the previously identified changes in the labor market. Show the effect of the legislation on the fast food market by shifting one or both of the curves. The Market for Fast Food QUANTITY OF FAST FOOD Supply Demand Demand Supply

PRICE Homework (Ch 4) WAGE RATE 1. The link between resource and product markets The following graph represents the labor market in the fast food industry, which consists mainly of high school and college students in a hypothetical economy. Suppose the government decides to impose a labor law that forbids employers from hiring students. Assume that this new legislation has no impact on the desire of students to remain in school. Assuming all other things are constant, show the effect of this legislation on the labor market for the fast food industry by shifting one or both of the curves in the following graph. Labor Market in the Fast Food Industry S Demand 52 Demand EMPLOYMENT IN FAST FOOD INDUSTRY Supply (?) The following graph shows the initial demand for and supply of fast food in this economy before the previously identified changes in the labor market. Show the effect of the legislation on the fast food market by shifting one or both of the curves. The Market for Fast Food QUANTITY OF FAST FOOD Supply Demand Demand Supply

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following are the P/E ratios (price of stock divided by projected earnings per share) for 20 banks. 50, 19, 22, 21, 25, 18, 31, 21, 19, 14, 15, 18, 17, 34, 29, 23, 14, 18, 22, 22 Send data to calculator Find 20" and 75" percentiles for these ratios. (a) The 20th percentile: (b) The 75th percentile:| Continue Cip 40 4- %23 %24 3. 6. 7. R. 00 %24
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