The equilibrium quantity of labor and the equilibrium wage increase when: A) labor supply shifts to the left, if wages are flexible. B) labor supply shifts to the right, if wages are flexible. C) labor demand shifts to the right, if wages are flexible. D) labor demand shifts to the left, if wages are flexible.

Suppose the supply curve of lab assistants is given by w = 8 + 6E, while the demand curve is given by w = 40 – 2E. (Assume is in 000s of persons and w is the annual salary in thousands of dollars). Calculate the equilibrium wage and employment level.

You are given a scenario where this a change in a factor of production or a change in demand for an item. You need to explain in sentence form how this would change demand for labor.   You own a sports equipment manufacturing firm. You were just informed rent at your warehouse space would double.

Explain the effect of an increase in demand for tomatoes on demand or supply of tomato pickers. What is the effect on wages of tomato pickers and the number of tomato pickers hired.

Suppose the hourly wage rate is $14, the rental price of capital is $2 and the price of output is constant at $42 per unit. Firm's production technology is q = 4K0.25 0.75, the marginal product of employment is MPE =3K0.25E-0.25 and the marginal product of capital is MPK = K™ 0.75 0.75. What is firm's optimal demand of labor if firm plans to produce q=19 units of outputs in the long-run? (please keep 1 decimal place in your answer)

Which of the following would increase the supply of labor? There’s a decrease in the number of workers The amounts of capital firms have increases The productivity of workers increases Immigration increases the number of workers

am. 10.

The graph below depicts equilibrium in the labor market for yoga instructors. Yoga has become increasingly popular as an alternative, or even a complement, to other forms of exercise, such as working out in a gym or running. Suppose that medical research shows that practicing yoga three times a week greatly increases the cardiovascular health of senior citizens. This increases the demand for yoga classes and studios, which in turn leads to an increase in price for yoga. How will this impact the labor market for yoga instructors? Illustrate on the graph below by shifting a curve or curves.