In Miami, 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. ? WAGE (Dollars per hour) 45 40 6 30 25 2 15 10 5 O 0 45 135 315 360 180 225 270 LABOR (Number of workers) 405 Supply What is one explanation for why this labor supply curve is upward sloping over the range of wages from low wage to high wage? O Unemployment benefits are steadily declining. People prefer to spend time doing leisure activities rather than working. O Firms are willing to hire more hostesses at a lower wage. O The opportunity cost of leisure decreases as wages decrease.

Ted’s café hires workers to produce lattes. The market for lattes is competitive and the price of a latte is $4. The labor market is also competitive, and the wage rate is $40 a day.  The table shows the workers’ total product schedule. If Ted’s Cafe is one of 300 firms in the latte market, how many workers will be employed in the market at this price? Ted’s Café installs a new latte equipment that increases the productivity of workers by 50%. If the price of a latte remains at $4 and the wage rises to $48 a day, how many workers does Ted Café hire and why?

In Houston, 150 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 50 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 Supply 40 20 10 180 190 20 190 300 190 40 490 sao LABOR (Number of workers) What is one explanation for why this labor supply curve is upward sloping? Wages have to increase to accommodate union pressure. Labor production functions exhibit diminishing marginal returns. o Unemployment benefits are steadily declining. o The opportunity cost of leisure decreases as wages decrease. (noy od sog aowm

Define tariff .

Show the effect of each of the following events (using a properly labeled supply/demand diagram) on the market for labor in the computer manufacturing industry.A.    Congress buys personal computers for all U.S. college students.   B.    More college students major in engineering and computer science.C.    Computer firms build new manufacturing plants and a new study shows declining job satisfaction in the computer manufacturing industry.

14. The figure shows the supply and demand for labor in the textile industry. In each of the following scenarios, identify the direction of the shift in either the supply or demand curve and state whether the resulting equilibrium wage and quantity increase or decrease. What are the original equilibrium wage and quantity? Immigration and layoffs from other jobs increase the population of textile workers. A new technology for making self-printed T-shirts reduces the marginal product of labor for textile workers.

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The figure given below shows a backward-bending labor supply curve for an individual. Along which part of the labor supply curve in the figure below does the income effect of a wage change outweigh the substitution effect? Figure 12.1 Wage b Quantity of labor Between points a and b Between points a and c Between points b and c Between points c and d Between points b and d О О

Profit maximization Suppose that the market wage for blueberry pickers is $80 per worker per day, and the price of blueberries is $15 per pound. On the following graph, use the blue points (circle symbol) to plot Blewitt's labor demand curve when the output price is $15 per pound. Note: Remember to plot each point between the two integers. For example, when the number of workers increases from 0 to 1 , the value of the marginal product of for the first worker should be plotted with a horizontal coordinate of 0.5 , the value halfway between 0 and 1 . Line segments will automatically connect the points. At the given wage and price level, Blewitt's should hire At the given wage and price level, Blewitt's should hire Suppose that the price of blueberries increases to $18 per pound, but the wage rate remains at $80. On the previous graph, use the purple points (diamond symbol) to plot Blewitt's labor demand curve when the output price is $18 per pound. Now Blewitt's…

In Akron, 150 people are willing to spend an hour working as yoga instructors for an hourly wage of $10. For each additional $5 that the wage increases above $10, an additional 50 people are willing to spend an hour working. For hourly wages of $10, $15, $20, $25, and $30, plot the daily labor supply curve for yoga instructors on the following graph. 50 45 40 35 & WAGE (Dollars per hour) 20 15 10 5 0 0 50 100 150 200 250 300 350 LABOR (Number of workers) 400 450 500 Supply What is one explanation for why this labor supply curve is upward sloping? Wages have to increase to accommodate union pressure. Unemployment benefits are steadily declining. The opportunity cost of leisure decreases as wages decrease. People prefer to spend time doing leisure activities rather than working. ?