Question: 1 Migration is expected to occur if movement between two markets is frictionless unless: A. Value of Marginal Product (VMPe) is equal in both markets B. Their populations are equal C. They have the same labor demand function D. Total gains from trade are equal across both markets
Question: 1 Migration is expected to occur if movement between two markets is frictionless unless: A. Value of Marginal Product (VMPe) is equal in both markets B. Their populations are equal C. They have the same labor demand function D. Total gains from trade are equal across both markets
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question: 1
Migration is expected to occur if movement between two markets is frictionless unless:
A. Value of Marginal Product (VMPe) is equal in both markets
B. Their populations are equal
C. They have the same labor
D. Total
Question: 2
The market wage increases by 8%. In response the firm reduces its employment by 5%.
What is the elasticity of labor demand?
Show your work.
Is the
What do you think will happen to this coefficient in the long run?
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