Only type writing allow....don't use pepar work ..... 2. Plotting the supply of laborIn Philadelphia, 180 people are willing to work an hour as hostesses if the wage is $10 per hour. For each additional $5 that the wage rises above $10,an additional 45 people are willing to work an hour.For wages of $10, $15, $20, $25, and $30 per hour, plot the daily labor supply curve for hostesses on the following graph.WAGE (Dollars per hour)5045404035302015105004590135 180 225 270 315 360 405 450LABOR (Number of workers)SupplyWhat is one explanation for why this labor supply curve is upward sloping over the range of wages from low wage to high wage?Labor production functions exhibit diminishing marginal returns.The opportunity cost of leisure increases as wages increase.People prefer to spend time doing leisure activities rather than working.Wages have to increase to accommodate union pressure.

Step 1:wages ($)labor1018015225202702531530360To plot the labor supply curve using R, we'll follow…

Answered: 2. Plotting the supply of labor In…

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter12: Labor Markets And Labor Unions

Section: Chapter Questions

Problem 1.1P

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What is die price commonly called in the labor market?
Name some factors that can cause- a shift in the supply curve in labor markets.
Table 14.10 shows levels of employment (Labor), the marginal product at each of those levels, and the price at which the film can sell output in the perfectly competitive market where it operates. What is the value of the marginal product at each level of labor? If the firm operates in a perfectly competitive labor market where the going market wage is 12, what is the films profit maximizing level of employment?
Name some factors that can cause a shift in the demand curve in labor markets.
12. The figure shows Edwyn’s labor supply curve. Consider a wage increase from $5 to $6. For Edwyn, does the price effect or income effect dominate his labor supply decision? Consider a wage increase from $7 to $8. For Edwyn, does the price effect or income effect dominate his labor supply decision?
11. Calculating the price elasticity of supply Dina is a stay-at-home parent who lives in Denver and does some consulting work for extra cash. At a wage of $25 per hour, she is willing to work 6 hours per week. At $35 per hour, she is willing to work 16 hours per week. Using the midpoint method, the elasticity of Dina's labor supply between the wages of $25 and $35 per hour is approximately that Dina's supply of labor over this wage range is which means
6. Plotting the supply of labor In Providence, 120 people are willing to spend an hour working as pizza makers for an hourly wage of $20. For each additional $5 that the wage increases above $20, an additional 30 people are willing to spend an hour working. For hourly wages of $20, $25, $30, $35, and $40, plot the daily labor supply curve for pizza makers on the following graph. WAGE (Dollars per hour) 50 45 40 35 30 25 20 15 10 5 0 0 + 30 60 90 120 150 180 210 LABOR (Number of workers) 240 270 300 Supply What is one explanation for why this labor supply curve is upward sloping? The opportunity cost of leisure increases as wages increase. O Unemployment benefits are steadily declining. Wages have to increase to accommodate union pressure. O Firms are willing to hire fewer pizza makers at a higher wage.
LO LL 50 45 40 20 15 WAGE (Dollars per hour) 6. Plotting the supply of labor In Philadelphia, 180 people are willing to work an hour as hostesses if the wage is $20 per hour. For each additional $5 that the wage rises above $20, an additional 45 people are willing to work an hour. For wages of $20, $25, $30, $35, and $40 per hour, plot the daily labor supply curve for hostesses on the following graph. Supply 35 25 5. 06 135 180 225 270 315 405 450 LABOR (Number of workers) What is one explanation for why this labor supply curve is upward sloping? MacBook Pro #3 24 2. 4. R M B. N
6. Plotting the supply of labor In San Diego, 135 people are willing to work an hour as cashiers if the wage is $20 per hour. For each additional $5 that the wage rises above $20, an additional 45 people are willing to work an hour. For wages of $20, $25, $30, $35, and $40 per hour, plot the daily labor supply curve for cashiers on the following graph. 50 45 Supply 40 35 30 20 10 0 45 90 135 180 225 270 315 360 405 450 LABOR (Number of workers) What is one explanation for why this labor supply curve is upward sloping? O Labor production functions exhibit diminishing marginal returns. O The opportunity cost of leisure increases as wages increase. O People prefer to spend time doing leisure activities rather than working. O Wages have to increase to accommodate union pressure. WAGE (Dollars per hour) 15 25
5 For each of the following examples, choose the case with the lower (more inelastic) wage elasticity. Assume an $18 per hour wage rate: Serpent Brewing is a brewery in Nova Scotia. Would you expect Serpent Brewing's demand for beer tasters to have a lower wage elasticity than their beer production line workers? Explain. Nova Scotia's Non-Essential Pesticides Control Act, which came into effect in 2012, covers the "cosmetic" use of pesticides for lawn care and ornamental plants on residential, commercial, government, and institutional properties. Would you expect a farms demand for farm labour for weeding, in a jurisdiction where herbicides are banned for environmental reasons to have a lower wage elasticity than a jurisdiction where they are not? Explain. A coal mine's demand for labour, where the mine has a local monopoly in the sale of coal, versus a mine that sells coal in a competitive market. The demand for workers in a tobacco (cigarette) factory versus the demand for…
Figure 18b This figure below shows the labor market for automobile workers. The curve labeled S is the labor supply curve, and the curves labeled D1 and D2 are the labor demand curves. On the horizontal axis, L represents the quantity of labor in the market. 0 S D₁ What is measured along the vertical axis on the graph? O a. the wage paid to automobile workers O b. time spent by workers producing automobiles O c. the quantity of automobiles produced O d. the price of automobiles L
61. Figure: Cleaners' Wages Wage $40 35 30 20 10 0 0 1 1 The marginal product of labor 1 2 1 3 L 4 1 5 L 6 The demand curve for labor 7 9 10 8 Number of cleaners Refer to the figure. How many workers will this firm hire at a wage of $29? A) 0 B) 1 C) 2 D) 3

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