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Q.3 Discuss how the wages are inter-related to the
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- 4. Minimum wage legislation Part 3 The following graph shows the labor market in the fast-food industry in the fictional town of Supersize City. 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. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly.The war in Ukraine has driven many highly qualified IT specialists into neighboring Poland, where many chose to remain and start looking for jobs There are four graphs, depicting: (1) labor market for IT specialists in Poland, (2) the profit maximizing decision of a typical perfectly competitive Polish software firm, (3) market for Polish software products; (4) the Polish market for imported software products. Our goal is to analyze, using what you have learned, the effect of influx of foreign IT specialists on the three markets and on the typicalPolish software firm.. You have to address the questions in order, starting with the labor market for farm workers. In the labor market for IT specialists:: 1. Label clearly the supply and demand curves, S and D. 2. In the text, indicate clearly what side of the market is affected, supply or demand, by underlining or circling the relevant term. 3. Once you decided which side of the market is affected and how, show on the graph the new supply….
- 9. Minimum wage legislation The following graph shows the labor market in the fast-food industry in the fictional town of Supersize City. 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. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool ?) 20 Market for Labor in the Fast Food Industry 18 I Wage (Dollars per hour) 16 Labor Supplied (Thousands of workers) Supply Labor Demanded 900 14 (Thousands of workers) 12 10 8 Demand 4. 0. 90 180 270 360 450 540 630 720 810 900 LABOR (Thousands of workers) WAGE (Dollars per hour)Suppose 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?a) Refer to the above diagram determine the number of unemployed, if thegovernment imposes a minimum wage of $8? (Show on the graph!) b) Discuss the result of a decrease in minimum wage that kept it above theequilibrium wage.
- Economics: Labor Economics Question: Native labor demand and supply are given by the following functions: w = 19 - 0.001ED and w = 10 + 0.0005ES Show your work a.What is the native employment in equilibrium? [a] b.What is the native equilibrium [b] Suppose that 2,000 immigrants that are perfectly substitutes for native workers now enter the market and their labor supply is perfectly inelastic. c.How many natives will be employed after the immigrants enter (round to the nearest whole number)? [c] d.What is the equilibrium wage for all workers in this market after the immigrants enter (round to the hundredth of a dollar)? [d] Thank you for your support and help Education Agent!2, a. Given the supply and demand for labor services, where wage is the price of labor services, explain the impact of a minimum wage above the equilibrium wage on employment. Draw a graph to illustrate this and explain the graph in words.what happen to equilibrium price and quantity in the following situation? in the market for coca-cola, the price of pepsi, as subtitute, increase at the same time wages paid to worker at coca-cola increase. in the market for lectture, the goverment raises the current market price above equilibrium, and it cannot change meaning the price adjust without a shift in either curve.
- An increase in the number of skilled working-age immigrants and their families to the United States would (choose one or more) A shift the U.S. demand for skilled labor curve to the right B shift the U.S. supply of skilled labor curve to the right C increase the hours worked by skilled labor D have an ambiguous impact on the wage rate earned by skilled laborPrice 0 9 D S Price Quantity 0 Price (c) m D 0 S k D 'S' (b) h Quantity S S Quantity (Exhibit: The Market for Music Downloads) An increase in the wage rate paid to web site technical support employees would result in a change illustrated by the move from: a. h to i in Figure (b). Ob.g to fin Figure (a). Oc. i to h in Figure (b). Od. f to g in Figure (a).
