Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. WAGE (Dollars per hour) 16 14 12 0 0 Supply Demand 200 400 600 800 1000 1200 1400 1600 LABOR (Thousands of workers) At the union wage, Enter $10.00 into the box labeled Wage on the previous graph. Hint: Be sure to pay attention to the units used on the graph. union workers will be employed. Graph Input Tool Market for Labor Wage (Dollars per hour) Labor Demanded. (Thousands of workers) 2.00 1,400 Labor Supplied (Thousands of workers) 200 The following graph shows the labor market in a state in the South. The legislature in this state passes strong "right-to-work" laws that make it very difficult for unions to organize workers, so the wage is always equal to the market-clearing value. Except for this difference in legislation, the two states are very similar.

Whats the difference between wages and salaries ?

Consider two states that adopt different laws concerning labor unions. The following graph shows the labor market in a state in the North. Initially, the market-clearing wage there is $8.00 per hour. Suppose that the legislature in this northern state passes laws that make it easy for workers to join a union. Through collective bargaining, the union negotiates a wage of $10.00 per hour. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. 020040060080010001200140016001614121086420WAGE (Dollars per hour)LABOR (Thousands of workers)Demand Supply  Graph Input Tool   Market for Labor     Wage (Dollars per hour)           Labor Demanded (Thousands of workers)       Labor Supplied (Thousands of workers)     Enter $10.00 into the box labeled Wage on the previous graph. Hint: Be sure to pay attention to the units used on the graph. At the union wage, union workers will be employed.…

1. If you worked for a union, would you accept higher wages if it meant others would be laid off? Why or why not?   2. Draw a picture of the backward bending supply curve. Make it your individual supply curve with wages you would accept and the time you would be willing to work. Have at least five points that connect together to make a curve. Your curve can be drawn, or you can use excel to create a chart.

QUESTION9 All of the following can raise wages of union members EXCEPT O limiting union membership over time. O increasing the demand for non-union made goods. O increasing the demand for union-made goods. O increasing the productivity of union workers.

Quantity of Labor Supplied Wage Total Cost of Labor Marginal Cost of Labor Marginal Revenue Product 50 $10 $500 $10 $30 100 $12 $1200 X $25 150 $15 $2250 $21 $21 200 $18 $3600 $27 $18 250 $20 $5000 $28 $15   Use the labor market data for a monopsony employer above. Solve for the missing value X. Question 9 options:   $12   $14   $25   $700

a)10 b)18 c)8 d)17

Ford Motors 2010-2019 How does the type of labor used (high-skilled or low-skilled) impact the supply of labor?  How do these influence the wage rate in the company?

Economics

PLEASE ONLY ANSWER PARTS A, D, AND E