subject
Business, 25.02.2020 18:44 jeifetz1023

Suppose the supply curve of physicists is given by w= 10 + 5E, while the demand curve is given by w= 50 – 3E.

Calculate the equilibrium wage and employment level.

Suppose now that the demand for physicists increases to w= 70 – 3E. Assume the market is subject to cobwebs.

Calculate the wage and employment level in each round as the wage and employment levels adjust to the demand shock.

(Recall that each round occurs on the demand curve – when the firm posts a wage and hires workers).

What is the new equilibrium wage and employment level?

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 19:40
Michigan mattress company is considering the purchase of land and the construction of a new plant. the land, which would be bought immediately (at t = 0), has a cost of $100,000 and the building, which would be erected at the end of the first year (t = 1), would cost $500,000. it is estimated that the firm's afterminustax cash flow will increase by $100,000 starting at the end of the second year, and that this incremental flow would increase at a 10 percent rate annually over the next 10 years. what is the approximate payback period?
Answers: 3
question
Business, 22.06.2019 13:50
The state troopers in one state have a motto, β€œnine you’re fine; ten you’re mine,” which is the standard that they use for pulling over speeders on the state highways. in other words, if the posted speed limit is 55 mph, drivers can drive at a rate up to 64 mph without fear of getting a ticket. which of the following best describes the ethical culture in the state? a. the troopers are following a standard of positive law. b. the troopers are following a normative standard. c. the troopers are following a headline test. d. the troopers are following the blanchard/peale standard.
Answers: 1
question
Business, 22.06.2019 19:00
Lucy is catering an important luncheon and wants to make sure her bisque has the perfect consistency. for her bisque to turn out right, it should have the consistency of a. cold heavy cream. b. warm milk. c. foie gras. d. thick oatmeal.
Answers: 3
question
Business, 22.06.2019 20:00
Later movers do not face: entrenched competitors. reduced uncertainty over technologies. high growth markets. lower market uncertainty.
Answers: 3
You know the right answer?
Suppose the supply curve of physicists is given by w= 10 + 5E, while the demand curve is given by w=...
Questions
question
Business, 07.05.2021 17:40
question
Arts, 07.05.2021 17:40
question
Mathematics, 07.05.2021 17:40
question
Mathematics, 07.05.2021 17:40
question
Mathematics, 07.05.2021 17:40
question
Mathematics, 07.05.2021 17:40
Questions on the website: 13722361