a 4 What is the change in total surplus based on the imposition of a wage

A 4 what is the change in total surplus based on the

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a. 0 4. What is the change in total surplus based on the imposition of a wage ceiling at $17 a. 18.64 5. Generally, discriminatory employers might be thought of as which of the following? a. Utility maximizers b. Profit maximizers c. Wage setters 6. Which of the following microeconomic tools aids monopsony employers in identifying the required wage level? a) MRP L = ME L b) MR = MC c) MRPL = L D Graphing/Calculating Questions: Each of the following should include the requested graphic AND a brief explanation/interpretation of what is being observed.
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7. Provide a labor market model complete with graphic representations of worker and employer surplus when L S = -38+4W and L D = 95-3W. It is not necessary to calculate the values for ES, WS, etc. but you must show the areas of these surpluses/losses. 8. Form a separate model from that created in question 7 above, but using the same L S and L D equations, and show how worker and employer surpluses change based on the imposition of a wage ceiling at $17 – be sure to represent the area for dead weight loss and all values needed to calculate these changed areas and values. Again, it is not necessary to calculate the values for ES, WS, etc. but you must show the areas of these surpluses/losses. 9. Form a separate model from that created in question 7 above, but using the same L S and L D equations, and show how worker and employer surpluses might change in the face of a labor government imposed labor quota at 50. Along with this quota, the government has agreed to hire all workers not demanded by firms at the wage required by those workers.
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  • Fall '19
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