Microeconomics (2nd Edition) (Pearson Series in Economics)
2nd Edition
ISBN: 9780134492049
Author: Daron Acemoglu, David Laibson, John List
Publisher: PEARSON
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Question
Chapter 11, Problem 5Q
To determine
The effect of the following situations on labor
(a) Increase in the firm’s product
(b) Use of new technology which reduces the time taken to produce a good by half per worker
(c) Increase in age criteria for social security benefits.
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The maximum number of workers that a firm would hire is
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What factor limits the amount a firm can pay a worker to produce a product?
Chapter 11 Solutions
Microeconomics (2nd Edition) (Pearson Series in Economics)
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Similar questions
- Which of the following is likely to increase the supply of labour? a decrease in fringe benefits a relaxation of restrictions on immigration an increase in the value placed on leisure a decrease in the populationarrow_forwardWhich 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 workersarrow_forwardWhich of the following describes the effect of the changes in the manufacturing labor market on the market for service workers, which is not unionized? Check all that apply. The wage of service workers will fall. The supply of service workers will remain unchanged. The demand for service workers will remain unchanged. There will be an increase in employment in the service sector.arrow_forward
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