ResourcesSubmit AllQuestion 22 of 30<>The graphs show the market labor supply (LS) curve for the country of Littleland. The two graphs show different shifts in the LScurve, from LS1 to LS2. Assume there is no change in the labor demand curve. For each statement, select the graph thatillustrates the appropriate shift.Graph AGraph BLS1LS2LS2LS1Quantity of laborQuantity of labor8:23 PMa46°F12/15/2021Wages SubmitQuestion 22 of 30<>a. The equilibrium wage rate increases.b. The equilibrium wage rate decreases.O Graph AGraph BO Graph AO Graph Bc. The government introduces a free childcare policy.d. Immigration to Littleland increases.O Graph AO Graph BGraph AO Graph Bf. The birthrate in Littleland decreases.e. Emigration from Littleland increases.O Graph AGraph BGraph AGraph B46°F

"Since you have posted a question with multiple subparts, we will solve the first three subparts for you. To get the remaining subpart solved, please repost the complete question and mention the subpart to be solved" The equilibrium wage and equilibrium quantity in the labor market are determined by the demand and supply. The equilibrium occurs when the quantity demanded of labor is equal to the quantity supplied of labor. The changes in demand and supply can result in changes in equilibrium wage and equilibrium quantity. For example, a decrease in the demand with the supply remaining the same will result in a decrease in the equilibrium wage and quantity.a)An increase in the equilbrium wage rate requires a leftward shift of the labor supply curve. A rightward shift of the labor supply curve will result in a fall in the equilbrium wage rate. Therefore the correct option is graph B. Graph A is not correct since the rightward shift of the supply curve will decrease the equilbrium wage b) A decrease in the equilbrium wage rate requires a rightward shift of the labor supply curve. Therefore the correct option is graph A. Graph B is not correct since the leftward shift of the supply curve will increase the equilbrium wage c)The free childcare policy will provide incentives for more women to enter the labor force. As a result, the labor supply will increase and the labor supply curve will shift to the right. Therefore the correct option is graph A. Graph B is not correct since the new policy will increase the labor supply, not decrease it.

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The graphs show the market labor supply (LS) curve for the country of Littleland. The two graphs show different shifts in the LS curve, from LS1 to LS2. Assume there is no change in the labor demand curve. For each statement, select the graph that illustrates the appropriate shift. Graph A Graph B LS1 LS2 LS2 LSI Quantity of labor Quantity of labor 8:23 PM 46°F 12/15/202 近

The graphs show the market labor supply (LS) curve for the country of Littleland. The two graphs show different shifts in the LS curve, from LS1 to LS2. Assume there is no change in the labor demand curve. For each statement, select the graph that illustrates the appropriate shift. Graph A Graph B LS1 LS2 LS2 LSI Quantity of labor Quantity of labor 8:23 PM 46°F 12/15/202 近

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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