Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Question
Chapter 11, Problem 16SQ
To determine
The impact of technical advancement on wages and quantity of labor.
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For each of the following determine the impact on the demand or the supply of labor and the effect on the equilibrium wage and quantity of labor employed.
a. An increase in the price of capital.        Â
b. A union is formed which uses collective bargaining to obtain higher wages for its members.          Â
c. The marginal productivity of workers rises.           Â
d. People desire leisure more than ever before (e.g. it is Christmas Day).      Â
e. The wages offered in other labor markets requiring similar skills are now offering substantially higher wages.          Â
f. The fringe (non-monetary) benefits offered in this market have increased substantially.        Â
g. The government has just adopted an "open-door' immigration policy?
When is an employer forced to keep the labor cost low?
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A.
When the product demand is inelastic.
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B.
When the employer is in a competitive product market.
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C.
When the rate of unemployment is low.
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D.
When certain skills are essential for production.
To say that a firm is competitive in the labor market is to say that the firm
a. has little or no control over the number of workers it hires.
b. has little or no control over the wage it pays its workers.
c. is aggressive in pursuing the most skilled workers in the labor market.
d. is aggressive in trying to keep its workers' wages low.
Chapter 11 Solutions
Micro Economics For Today
Ch. 11.3 - Prob. 1YTECh. 11 - Prob. 1SQPCh. 11 - Prob. 2SQPCh. 11 - Prob. 3SQPCh. 11 - Prob. 4SQPCh. 11 - Prob. 5SQPCh. 11 - Prob. 6SQPCh. 11 - Prob. 7SQPCh. 11 - Prob. 8SQPCh. 11 - Prob. 9SQP
Ch. 11 - Prob. 10SQPCh. 11 - Prob. 11SQPCh. 11 - Prob. 1SQCh. 11 - Prob. 2SQCh. 11 - Prob. 3SQCh. 11 - Prob. 4SQCh. 11 - Prob. 5SQCh. 11 - Prob. 6SQCh. 11 - Prob. 7SQCh. 11 - Prob. 8SQCh. 11 - Prob. 9SQCh. 11 - Prob. 10SQCh. 11 - Prob. 11SQCh. 11 - Prob. 12SQCh. 11 - Prob. 13SQCh. 11 - Prob. 14SQCh. 11 - Prob. 15SQCh. 11 - Prob. 16SQCh. 11 - Prob. 17SQCh. 11 - Prob. 18SQCh. 11 - Prob. 19SQCh. 11 - Prob. 20SQ
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