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Question 18 The labour demand curve for this industry can be expressed as 16 Nd w1-a -- ()* 4a Nd w Nd = 4w-1 -()* Question 19 The wage elasticity of labour demand can be expressed as 1-a 1-a Question 20 Assume a = 0. 5 and suppose that d = 1 and b = 0.5. What are the competitive equilibrium wage and lev of employment? w* = 1.5, N* = 3 w* = 2, N* = 4 w* = 8, N* = 16 w* = 2. 83, N* = 5. 66 Question 21 Continue to assume that a = 0.5 and d = 1. The government increases the unemployment benefit to b = 1.5. What are the equilibrium wage and level of employment now? w* = 2.5, N* = 2. 56 w* = 2. 83, N* = 5. 66 w* = 1.6, N* = 3. 2 w* = 2, N* = 4 Question 22 Starting from the situation in Question 21, suppose technology improves so that the output of the firm is given by 6. Q = Nº. What are the equilibrium wage and level of employment now? w* = 2. 83, N* = 5. 66 w* = 2.6, N* = 5. 24 w* = 18, N* = 36 w* = 4. 24, N* = 8. 49

Question 18 The labour demand curve for this industry can be expressed as 16 Nd w1-a -- ()* 4a Nd w Nd = 4w-1 -()* Question 19 The wage elasticity of labour demand can be expressed as 1-a 1-a Question 20 Assume a = 0. 5 and suppose that d = 1 and b = 0.5. What are the competitive equilibrium wage and lev of employment? w* = 1.5, N* = 3 w* = 2, N* = 4 w* = 8, N* = 16 w* = 2. 83, N* = 5. 66 Question 21 Continue to assume that a = 0.5 and d = 1. The government increases the unemployment benefit to b = 1.5. What are the equilibrium wage and level of employment now? w* = 2.5, N* = 2. 56 w* = 2. 83, N* = 5. 66 w* = 1.6, N* = 3. 2 w* = 2, N* = 4 Question 22 Starting from the situation in Question 21, suppose technology improves so that the output of the firm is given by 6. Q = Nº. What are the equilibrium wage and level of employment now? w* = 2. 83, N* = 5. 66 w* = 2.6, N* = 5. 24 w* = 18, N* = 36 w* = 4. 24, N* = 8. 49

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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D: Production and employment Questions 18-22 relate to the following information. The output of an industry is well approximated by 4 Q = N°. where N denotes employment (in 1000s) and 0 < a<1. The competitive market wage is given by w and the price of the good produced isP=1. Workers face a dis-utility of working given by d (valued in dollars). In addition, the government provides an unconditional unemployment benefit given by b. The resulting supply curve of labour (in 1000s) is given by ( 2w if w – d > b N$ = if w – d < b Question 18 The labour demand curve for this industry can be expressed as 16 Nd %3D wia -- (*)* 4a Nd Nd = 4wa-1 (9)* (4) w Question 19 The wage elasticity of labour demand can be expressed as 1 1- a 1 1- a 1 1- a Question 20 Assume a = 0. 5 and suppose that d = 1 and b = 0.5. What are the competitive equilibrium wage and level of employment? w* = 1.5, N* = 3 w* = 2, N* = 4 w* = 8, N* = 16 w* = 2. 83, N* = 5. 66 Question 21 Continue to assume that a = 0.5 and d = 1. The government increases the unemployment benefit to b = 1.5. what are the equilibrium wage and level of employment now? w* = 2. 5, N* = 2. 56 w* = 2. 83, N* = 5. 66 w* = 1.6, N* = 3. 2 w* = 2, N* = 4 Question 22 Starting from the situation in Question 21, suppose technology improves so that the output of the firm is given by 6 Q = No. What are the equilibrium wage and level of employment now? w* = 2. 83, N* = 5. 66 w* = 2.6, N* = 5. 24 w* = 18, N* = 36 w* = 4. 24, N* = 8. 49
Transcribed Image Text:D: Production and employment Questions 18-22 relate to the following information. The output of an industry is well approximated by 4 Q = N°. where N denotes employment (in 1000s) and 0 < a<1. The competitive market wage is given by w and the price of the good produced isP=1. Workers face a dis-utility of working given by d (valued in dollars). In addition, the government provides an unconditional unemployment benefit given by b. The resulting supply curve of labour (in 1000s) is given by ( 2w if w – d > b N$ = if w – d < b Question 18 The labour demand curve for this industry can be expressed as 16 Nd %3D wia -- (*)* 4a Nd Nd = 4wa-1 (9)* (4) w Question 19 The wage elasticity of labour demand can be expressed as 1 1- a 1 1- a 1 1- a Question 20 Assume a = 0. 5 and suppose that d = 1 and b = 0.5. What are the competitive equilibrium wage and level of employment? w* = 1.5, N* = 3 w* = 2, N* = 4 w* = 8, N* = 16 w* = 2. 83, N* = 5. 66 Question 21 Continue to assume that a = 0.5 and d = 1. The government increases the unemployment benefit to b = 1.5. what are the equilibrium wage and level of employment now? w* = 2. 5, N* = 2. 56 w* = 2. 83, N* = 5. 66 w* = 1.6, N* = 3. 2 w* = 2, N* = 4 Question 22 Starting from the situation in Question 21, suppose technology improves so that the output of the firm is given by 6 Q = No. What are the equilibrium wage and level of employment now? w* = 2. 83, N* = 5. 66 w* = 2.6, N* = 5. 24 w* = 18, N* = 36 w* = 4. 24, N* = 8. 49
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