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Explain why child labour could actually be pareto-optimal.
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- Show graphically that the incidence of a tax on labor does not depend on who pays the tax.According to the child labour model, if the demand curve is sufficiently elastic A. there is a single equilibrium with high wages or low wages, depending on the demand for labour B. there is a single equilibrium with low wages C. there is a single equilibrium with high wages D. there are multiple equilibriaWhat is Dual labor market theory?
- The market demand for labour is the sum of all the individual firms’ demand curves.Identify four factors that can cause the market demand curve to shift.The labor supply curve is the relationship between the wage level and the quantity of labor that workers are willing to provide. Why is applying the usual ceteris paribus assumption more complicated in this case than when weapply it to the product market?How can stages of production be used to determine the most profitable number of workers to hire