Use the black point (plus symbol) to indicate the equilibrium wage and level of employment before this law, and use the grey point (star symbol) to indicate the equilibrium wage and level of employment after this law is implemented. True or False?????: Employers are made worse off but employees are made better off by this law. Suppose that, before the mandate, the wage in this market was $1 above the minimum wage.In this case, the wage rate with the employer mandate will be _$__per hour, which will lead to _increase/decrease/nochange_ in the level of employment and _increase/decrease/nochange_ in the level of unemployment. Now suppose that workers do not value the mandated benefit at all. Which of the following statements are true under this circumstance? Check all that apply. Employers are worse off than before the mandated benefit. The equilibrium quantity of labor will rise. The supply curve of labor doesn't shift at all. Employees are neither better nor worse off than before the mandated benefit. The wage rate will decline by exactly $2. 3. Problems and Applications Q10Suppose that Congress passes a law requiring employers to provide employees some benefit (such as healthcare) that raises the cost of an employeeby $2 per hour. Assume that firms were not providing such benefits prior to the legislation.On the following graph, use the green line (triangle symbol) to show the effect this employer mandate has on the demand for labor.20DemandSupply18New Demand161412New Supply10Equilibrium Before Law4Equilibrium After Law20 12347810Quantity of Labor (Thousands)Wage (Dollars per hour) Suppose employees place a value on this benefit exactly equal to its cost.On the preceding graph, use the purple line (diamond symbol) to show the effect this employer mandate has on the supply of labor.Suppose the wage is free to balance supply and demand.Use the black point (plus symbol) to indicate the equilibrium wage and level of employment before this law, and use the grey point (star symbol) toindicate the equilibrium wage and level of employment after this law is implemented.True or False: Employers are made worse off but employees are made better off by this law.TrueFalseSuppose that, before the mandate, the wage in this market was $1 above the minimum wage.In this case, the wage rate with the employer mandate will be $per hour, which will lead toin the level of employment andin the level of unemployment.Now suppose that workers do not value the mandated benefit at all.Which of the following statements are true under this circumstance? Check all that apply.Employers are worse off than before the mandated benefit.The equilibrium quantity of labor will rise.The supply curve of labor doesn't shift at all.Employees are neither better nor worse off than before the mandated benefit.

Since you have asked multiple questions, we will answer the first two questions for you. Given, A…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Use the black point (plus symbol) to indicate the equilibrium wage and level of employment before this law, and use the grey point (star symbol) to indicate the equilibrium wage and level of employment after this law is implemented.

True or False?????: Employers are made worse off but employees are made better off by this law.

Suppose that, before the mandate, the wage in this market was $1 above the minimum wage.

In this case, the wage rate with the employer mandate will be _$__

per hour, which will lead to _increase/decrease/nochange_ in the level of employment and _increase/decrease/nochange_ in the level of unemployment.

Now suppose that workers do not value the mandated benefit at all.

Which of the following statements are true under this circumstance? Check all that apply.

Employers are worse off than before the mandated benefit.

The equilibrium quantity of labor will rise.

The supply curve of labor doesn't shift at all.

Employees are neither better nor worse off than before the mandated benefit.

The wage rate will decline by exactly $2.

3. Problems and Applications Q10
Suppose that Congress passes a law requiring employers to provide employees some benefit (such as healthcare) that raises the cost of an employee
by $2 per hour. Assume that firms were not providing such benefits prior to the legislation.
On the following graph, use the green line (triangle symbol) to show the effect this employer mandate has on the demand for labor.
20
Demand
Supply
18
New Demand
16
14
12
New Supply
10
Equilibrium Before Law
4
Equilibrium After Law
2
0 1
2
3
4
7
8
10
Quantity of Labor (Thousands)
Wage (Dollars per hour)

Suppose employees place a value on this benefit exactly equal to its cost.
On the preceding graph, use the purple line (diamond symbol) to show the effect this employer mandate has on the supply of labor.
Suppose the wage is free to balance supply and demand.
Use the black point (plus symbol) to indicate the equilibrium wage and level of employment before this law, and use the grey point (star symbol) to
indicate the equilibrium wage and level of employment after this law is implemented.
True or False: Employers are made worse off but employees are made better off by this law.
True
False
Suppose that, before the mandate, the wage in this market was $1 above the minimum wage.
In this case, the wage rate with the employer mandate will be $
per hour, which will lead to
in the level of employment and
in the level of unemployment.
Now suppose that workers do not value the mandated benefit at all.
Which of the following statements are true under this circumstance? Check all that apply.
Employers are worse off than before the mandated benefit.
The equilibrium quantity of labor will rise.
The supply curve of labor doesn't shift at all.
Employees are neither better nor worse off than before the mandated benefit.

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