Please adjust the graph to show the impact of a recession, where the theoretical market equilibrium wage rate falls to $10/h. Then, answer the two questions assuming wages are sticky downward. 30 28 26 24 22 20 18 16 14 12 10 8 6. 4 3 4 5 6 7 8 9 10 11 12 13 14 15 Labor quantity (in millions of workers) 1 After the effects of the recession are felt, what is the size of the increase or decrease in unemployment? increase or decrease in unemployment = million people What is the actual wage rate that predominates in the market? 2$ Wage rate (per hour)

Hey! Need help with the following question, thank you in advance!   Question: You read a newspaper report that compares wages paid to employees at Starbucks in India and in the United Kingdom. At the time, 1 pound was equal to 87 rupees. The report says that Starbucks baristas in India are paid a mere 56 pence an hour, which is lower than the price of the cheapest coffee that Starbucks sells in the United Kingdom. A friend of yours who read the report is appalled by this information and thinks that Starbucks ought to raise its salaries substantially in India. Is your friend necessarily correct? Explain your answer.

1. An individual derives utility from the consumption of a basket of goods, c and leisure time, given by U(c, l) = c²l(¹-a) where 0 < a < 1, is a constant; and must decide how to allocate her time between work, L and leisure to maximize her utility. The individual has a total of 24 hrs in a day (L + l = 24) and total consumption is constrained by her income; i.e., c = wL, where w the real per hour, is taken as given.

Cindy Jo's Hair Salon is concerned about its rising costs of supplies, energy, and labor, so it is considering investing in better equipment, which hopefully will reduce the time required to perform most hairstyles as well as result in better perceived quality by its customers. It predicts that the added investment will increase output levels as well as reduce energy costs, since some of the new equipment (hair dryers) use less electricity. Labor Energy Material Total Hide Feedback investment Using the given information, determine the current and expected single-factor and total productivity measures. Do not round intermediate calculations. Round your answers to three decimal places. Productivity Current (this year) haircuts/dollar Ⓡ Incorrect haircuts/dollar Ⓡ haircuts/dollar .28 € haircuts/dollar Expected (next year) Ⓡ haircuts/dollar haircuts/dollar Ⓡ Inputs and Current (this Expected (next Outputs year) year) Hairstyles per 280 320 Labor costs per $970 $1,020 M Energy costs per…