Teachers in Los Angeles recently went on strike, asking for higher salaries. They were successful. How would you expect this to change LA schools’ budget constraint, and how might this affect their optimal allocation of funds. In particular, how would you expect an increase in teacher salaries to affect schools’ hiring of teachers. Please use draw a diagram as part of your answer

Teachers in Los Angeles recently went on strike, asking for higher salaries. They were successful. How would you expect this to change LA schools’ budget constraint, and how might this affect their optimal allocation of funds. In particular, how would you expect an increase in teacher salaries to affect schools’ hiring of teachers. Please use draw a diagram as part of your answer

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter4: Extent (how Much) Decisions

Section: Chapter Questions

Problem 4.6IP

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