SQ5_LaborMarketsAK

A on separate graphs sketch the labor demand curve in

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Unformatted text preview: workers (see table below). Number of Workers 0 1 2 3 4 5 6 Number of Pairs of Socks 0 20 35 45 50 53 55 b. Susie will hire 4 workers (see table below). Number of Number of Workers Pairs of Socks 0 0 1 20 2 35 3 45 4 50 5 53 6 55 MPL VMPL 0 20 15 10 5 3 2 0 100 75 50 25 15 10 MPL VMPL 0 20 15 10 5 3 2 0 80 60 40 20 12 8 3. Consider an economy with 600 workers. There are two industries: industry A and industry B. The skills needed to perform the work in both industries are identical. The labor demand curves in the two industries are given by: LA=800- 50WA LB=1600- 100WB A is th...
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This note was uploaded on 02/13/2014 for the course ECON 2 taught by Professor Kim during the Winter '08 term at UCSD.

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