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- Why does the collective behaviour of supply managers have such an impact on economic trends?True/False Market price is an macroeconomic concept.Provide a law of demand type explanation for why women with more education and high-paying jobs have fewer children than women with less education and lower-paying jobs.
- The minimum wage is typically set above the market-clearing wage in the market for labor. Using a graph with an upward-sloping supply of labor, a downward-sloping demand for labor, with the quantity of labor measured on the horizontal axis and the wage rate on the vertical axis, show the effect on the labor market of a minimum wage set above the equilibrium wage rate. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.For each stock in the stock market, the number of shares sold daily equals the number of shares purchased. That is, the quantity of each firm’s shares demanded equals the quantity of its shares supplied. So, if this equality always occurs, why do the prices of stock shares ever change?When asked for investment advice, humorist Will Rogers joked that people should “[b]uy land. They ain’t making any more of the stuff.” Explain his advice in terms of the supply and demand model
- In the labor market, workers would like to receive higher wages and firms would like to pay lower wages. Suppose that workers succeed in having a minimum wage established above the equilibrium wage. What will happen to the number of workers employed when compared to the original equilibrium? Explain Suppose that firms succeed in having a maximum wage establish below the equilibrium wage. What will happen to the number of workers employed compared to the original equilibrium? Explain. What wage maximizes the number of workers employed?Why? How can a price ceiling make consumers better off? Under what conditions might it make them worse off? Monopolistic competition combines the strengthen of both perfect competition and monopoly;it is the most ideal market structures of all three? Do you agree? Explain how diminishing returns and economies of scale affect production costs.Large scale organizational are definitely more efficient than small firms and hence there should be…Why would demand for steel may decline when demand for aluminum rises? What kind of relationship exists between the two?Identify what sort of effects the following listed events have.You are required to define the market under study (for example: the labour market, oilmarket, etc). Explain whether the event acts on the demand or supply side, and whether theevent leads to a quantity or price change, or leads to a shift in demand and/or supply.Make sure to explain what sort of assumptions you are making on the elasticities of demandand supply.a) An increase in oil prices as a consequence of a price dispute in the world oil marketsb) The implementation of a minimum wagec) The implementation of subsidies to milk producers in Australiad) The implementation of a Carbon tax in the economy. A Carbon tax is charged according tothe level of emissions of greenhouse gases in an economy.e) The implementation of an increase in tuition in University studies
- Identify what sort of effects the following listed events have.You are required to define the market under study (for example: the labour market, oilmarket, etc). Explain whether the event acts on the demand or supply side, and whether theevent leads to a quantity or price change, or leads to a shift in demand and/or supply.Make sure to explain what sort of assumptions you are making on the elasticities of demandand supply.a) An increase in oil prices as a consequence of a price dispute in the world oil marketsb) The implementation of a minimum wagec) The implementation of subsidies to milk producers in Australiad) The implementation of a Carbon tax in the economy. A Carbon tax is charged according tothe level of emissions of greenhouse gases in an economy.e) The implementation of an increase in tuition in University studies. all a to e.If incomes of Americans decrease, we can expect the supply curve to shift leftward and be negatively affected. True FalseThe following graph shows the labor market in the fast-food industry in the fictional town of Supersize City. In a labor market, workers supply their labor to the market in exchange for wages, and their behavior is represented by the supply curve. Similarly, firms pay wages to obtain labor, and thus their behavior is represented by the demand curve. In this way, wages are the price of labor. (a). In this market, the equilibrium hourly wage is $_______ and the equilibrium quantity of labor is _______ thousand workers. (b). Suppose a senator introduces a bill to legislate a minimum hourly wage of $8. This type of price control is called a _______ (options: price ceiling, quota, tax, price floor).