The main requirement for becoming a registered nurse is passing the National Council Licensure Examination for Registered Nurses. Suppose that nurses from Canada were allowed to take this exam and seek jobs of travelling nurses in the US. As a result of that, the number of travelling nurses increased by 3% and the weekly pay of the travelling nurse went down from $5,200 to $4,800. If early vaccination results in additional 10% increase in the number of travelling nurses in December, how much will the weekly pay of travelling nurses change because of that?

The main requirement for becoming a registered nurse is passing the National Council Licensure Examination for Registered Nurses. Suppose that nurses from Canada were allowed to take this exam and seek jobs of travelling nurses in the US. As a result of that, the number of travelling nurses increased by 3% and the weekly pay of the travelling nurse went down from $5,200 to $4,800. If early vaccination results in additional 10% increase in the number of travelling nurses in December, how much will the weekly pay of travelling nurses change because of that?

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter5: Investment Decisions: Look Ahead And Reason Back

Section: Chapter Questions

Problem 5.5IP

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Seventy-two percent of the members of the United Food and Commercial Workers Local 655 voted to strike against Stop ’n Shop in the St. Louis area. In fear of similar union responses, two of Stop ’n Shop’s larger rivals in the St. Louis market—Dierberg’s and Schnuck’s—decided to lock out their union employees. The actions of these supermarkets, not surprisingly, caused Local 655 union members to picket and boycott each of the supermarkets’ locations. While the manager of Mid Towne IGA—one of many smaller competing grocers—viewed the strike as unfortunate for both sides, he was quick to point out that the strike provided an opportunity for his store to increase market share. To take advantage of the strike, the manager of Mid Towne IGA increased newspaper advertising by pointing out that Mid Towne employed Local 655 union members and that it operated under a different contract than “other” grocers in the area. Use a graph to describe the expected impact of advertising on Mid Towne IGA…
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