Demand and Supply of Labor

Feb 17th, 2015
KateS
Category:
Business & Finance
Price: $5 USD

Question description

#1. For each of the following determine the impact on the demand or the supply of labor and the effect on the equilibrium wage and quantity of labor employed.

a. An increase in the price of capital.

b. A union is formed which uses collective bargaining to obtain higher wages for its members.

c. The marginal productivity of workers rises.

d. People desire leisure more than ever before (e.g. it is Christmas Day).

e. The wages offered in other labor markets requiring similar skills are now offering substantially higher wages.

f. The fringe (non-monetary) benefits offered in this market have increased substantially.

g. The government has just adopted an "open-door' immigration policy?


Tutor Answer

(Top Tutor) Daniel C.
(997)
School: Purdue University
PREMIUM TUTOR

Studypool has helped 1,244,100 students

8 Reviews


Summary
Quality
Communication
On Time
Value
Five Star Tutor
Dec 8th, 2016
" Outstanding Job!!!! "
SjSurvivor143
Nov 22nd, 2016
" Thanks for the help. "
Joemoe
Nov 9th, 2016
" <3 it, thanks for saving me time. "
tinytim47
Oct 31st, 2016
" Wow this is really good.... didn't expect it. Sweet!!!! "
pmallory
Oct 26th, 2016
" Totally impressed with results!! :-) "
mixedballz
Oct 17th, 2016
" excellent work as always thanks for the help "
kiln82
Oct 4th, 2016
" awesome work thanks "
darnay
Sep 25th, 2016
" The best tutor out there!!!! "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1830 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors