Y = 5(4.00N-0.0188N²), where the marginal product of labor is given by: MPN = 5(4.00-0.0376N). The equation for the labor supply curve is: NS= 48.0 + 8(1-f)w, where NS is the amount of labor supplied, w is the real wage and t is the tax rate on wage income. The tax rate is t = 0.20. Determine the labor demand function. (Enter your responses rounded to two decimal places): >=0-0w. ND=

For the production function Q = K0.7L0.4 and the budget 146 = 7K+ 4L find the change in the optimal employment of L after wages change by a factor of 1.7. Please enter your response as a positive number with 1 decimal and 5/4 rounding (e.g. 1.15 1.2, 1.14 = 1.1).

Please dont provide answer in handwritten solution...

In the short run one half of the labour force has high skills and one half low skills (in terms of Figure 13.2 this means that the short-run supply curve is vertical at 0.5). The relative demand for the high-skill workers is given by W = 100×0.4×(1− f), where W is the wage premium and f is the fraction that is skilled. The premium is measured in percent. (a) Illustrate the supply and demand curves graphically, and compute the skill premium going to the high-skill workers in the short run by solving the two equations. (b) If demand increases to W = 100 × 0.6 × (1 − f) what is the new premium? Illustrate your answer graphically. Figure 13.2  

Production function for firm is Ys=ln(Ld)Utility function is U(Yd, Ld)= Ys+ln(1-Ls)1) Write down maximization problem of firm and find labor demand curve2) Write down maximization problem of household and find labor supply curve3) Write down market clearing conditions4) Calculate equilibrium employment and real wage5) If the price is equal to $2, what would be the nominal wage in equilibrium

For the production function Q budget 138 = 8K + 4L find the change in the optimal employment of L after wages change by a factor of 1.3. Please enter your response as a positive number with 1 decimal and 5/4 rounding ( e.g. 1.15 = 1.2, 1.14 = 1.1). = K0.7L0.6 and the

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.

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A company has 350 employees who work 120 hours a month each. Each worker earns $21 per hour. There is a profitable project the company would like to start, but it would require an additional 21,000 working hours within three months to be completed, and all the employees are fully loaded with other projects. The company does not want to hire new staff; they would like the project to be completed by the current workforce instead.Given that the wage elasticity of labor supply is 0.8, calculate the hourly wage the company should offer its employees to encourage them to work on the new project. Use the midpoint method and round to two decimal places throughout your calculations.

QUESTION 1 For the production function Q = K0.1L0.1 and the budget 124 = 5K + 2L find the NEW LEVEL in the optimal employment of capital (K) after wages change by a factor of 0.5 while maintaining the same level of output. Please enter your response as a positive number with 1 decimal and 5/4 rounding (e.g. 1.15 = 1.2, 1.14 = 1.1).