Suppose that you have the following information about the market for players on your team: Supply: W=5+N Demand: W=35-2N a. Draw this graphically and calculate the equilibrium wage and number of players on the team. b. Suppose that the players union negotiates a roster size of only 5 players on a team. Draw this graphically and calculate the new equilibrium wage number of players on the team.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Suppose that you have the following
information about the market for players on
your team:
Supply: W=5+N
Demand: W=35-2N
a. Draw this graphically and calculate the
equilibrium wage and number of players on
the team.
b. Suppose that the players union negotiates
a roster size of only 5 players on a team. Draw
this
graphically and calculate the new equilibrium
wage number of players on the team.
Transcribed Image Text:Suppose that you have the following information about the market for players on your team: Supply: W=5+N Demand: W=35-2N a. Draw this graphically and calculate the equilibrium wage and number of players on the team. b. Suppose that the players union negotiates a roster size of only 5 players on a team. Draw this graphically and calculate the new equilibrium wage number of players on the team.
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