A measure of how sensitive the amount of labor firms will hire is to changes in the wage rate.

Q: what are the factors that will lead to an increase in demand for workers in an economy?

A: There are many factors that could lead to an increase in the demand for labor. Some of them are: 1.…

Q: Which of the following would improve a worker’s marginal product? Group of answer choices an…

A: The marginal product of labour (or MPL) alludes to an organization's expansion in all-out production…

Q: n is an employer forced to keep the labor cost low?     A. When the product demand is inelastic.…

A: The wage rate will be competitive in the market structure where competition is high. When demand…

Q: The labor supply curve is upward sloping because        workers are willing to work more hours at…

A: Labor supply curve shows different combinations of wage and quantity of labor supplied.

Q: The marginal cost of labor (MCL) is equal to what for a firm that operates in a competitive labor…

A: In a perfect competition market, Marginal cost of labor which is wages equals the value of the…

Q: A school district received 750 applications for 10 new openings. What does this tell you about the…

A: Number of applications=750Number of openings=10From this,we can say that number of application is 75…

Q: To save money, some fast food chains are now having their customers place their orders at computer…

A: The introduction of the computer kiosks and the people ordering food using those kiosks only will…

Q: Assume the labor market for loggers is perfectly competitive. How would each of the following events…

A: Perfect competitive market refers to the market in which the price remains the same is equal to…

Q: Assuming a perfectly competitive labor market, what should an increase in the minimum wage do to the…

A: The demand curve for labour, under the ceteris paribus assumption, shows the amount of labor…

Q: Imagine there are 100 firms in a competitive product market who hire labour in a perfectly…

A: The competitive market structure is a market in which there are large number of buyers and sellers.…

Q: Why is the WS curve upward sloping (a).When wages are set by unions (b). When wages are set by…

A: The WS curve is also known as wage setting curve.

Q: Explain why labor productivity and real hourly compensation track so closely over time.

A: The labor is the individual who is willing to work at the prevailing wage rate in the economy. The…

Q: Firms will hire additional workers as long as the wage: a) is less than the marginal product of…

A: Firm will want to maximize profit.Therefore when wage is equal to marginal product of labor,after…

Q: Explain why wage rigidity due to labor unions may lead to structural unemployment.

A: Structural Unemployment: It is a form of involuntary unemployment (where are willing to work but…

Q: Present all the possible cases for which the labour supply will be vertical.

A: The labor supply curve marks the relationship between the wage rate and the labor available. The…

Q: For each of the following determine the impact on the demand or the supply of labor and effect on…

A: Labor market is in equilibrium when supply equals demand. The equilibrium wage rate is the rate that…

Q: Question 12 Scenario 4 Suppose the supply curve of workers is given by w 14 + 6Es, while the demand…

A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…

Q: With which of the theories of wages, is the name of John Stuart Mill associated?

A: Wages and productivity are a really basic and crucial part of economics. Wages are the financial…

Q: Define the term Direct Labor?

A: Direct labor is those labor, which are directly engaged in the production process. In other words,…

Q: The marginal product of labor for a firm is given by: MPL = 188 - 4H, where H is the number of hours…

A:

Q: It is profitable to hire labor so long as: A. The MPlabon is greater than wage B. The MPlabor) is…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: It Is profitable to hire labor so long as the: MPL is greater than wage b. MPL is less than wage VMP…

A: Marginal product of labor is the change in the output or increase in production when an additional…

Q: Which one of Marshall’s rules suggests why labor demand should be relatively inelastic for public…

A: The public school teachers and the nurses are a part of the production of some price inelastic…

Q: Consider the Labor Discipline/Efficiency Wage model presented in the book.

A: Since the question you have posted consists of multiple parts, we will answer the first two parts…

Q: How can an upward-sloping labor supply curve for an individual employer become horizontal? What are…

A: As the salary increases​, the alternative expense of leisure increases​, inducing people to dedicate…

Q: The term refers to a practice in which employers decide to hire more workers than are required for…

A: Given information, Misallocation-When capital and labor are unfairly spread, less productive…

Q: ). Union leaders are in better position to bargain for higher wages if demand for labour is

A: To find : When do uniob leaders are in better position to bargain for wages.

Q: It is profitable to hire labor so long as the: MP is greater than wage a. MP is less than wage VMP…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: How does the firm adjust its employment if it is costly to hire and fire workers?

A: A firm needs to alter or adjust its labour force(LF) as a response to the ever-changing environment…

Q: It is profitable to hire labor so long as: A. The MP(laborn is greater than wage B. The MP(labor) is…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Which of the following is not an assumption of a competitive labor market? numerous buyers and…

A: The answer is - interchangeable workers

Q: What are the causes of inflexible or sticky wages

A: Sticky wages are the earnings of workers, which cannot be quickly adjust with the market conditions.

Q: The sole hirer in a labor market confronts the following labor supply curve: Labor Wage 1 8 2 16 3…

A: Labor: - labor is one of the factors of production, any physical and mental work by humans against a…

Q: Why does the salary gap persist?

A: Wage discrimination happens when, because of the activity of the work market, comparable laborers…

Q: Explain labour demand in short with a diagram

A: In economics, demand is the term that is used to define the need/requirement of a product or a…

Q: Why is the short-run demand curve for labor downward sloping?

A: The three most important factors of production- land, labor, and capital are used in the production…

Q: Which of the following is a reason why some firms do not use commission pay?  It gives workers…

A: When a firm hires workers to produce output, it needs to give compensation to the workers for their…

Q: It Is profitable to hire labor so long as the: MPL is greater than wage b. MPL is less than wage C.…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Why is a firm in a purely competitive labor market a wage taker? What would happen if it decided to…

A: A market environment in which a large number of independent sellers deliver similar goods is known…

Q: The marginal product of labor for a firm is given by: MPL = 112 - 3H, where H is the number of hours…

A: When all other production factors are held constant, a company's marginal product of labour (or MPL)…