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Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050

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BuyFindarrow_forward

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050
Textbook Problem

Show the effect of each of the following events on the market for labor in the computer manufacturing industry.

a. Congress buys personal computers for all US. college students.

b. More college students major in engineering and computer science.

c. Computer firms build new manufacturing plants.

Subpart (a):

To determine
Changes in the market for labor in the computer manufacturing industry.

Explanation

The congress buying personal computers for all US college students will increase the demand for computers. The increase in demand for the computer will increase the demand for labor that produce computers and also increase the value of marginal products of workers.

Figure 1 shows the shift in the labor demand curve.

Subpart (b):

To determine
Changes in the market for labor in the computer manufacturing industry.

Subpart (c):

To determine
Changes in the market for labor in the computer manufacturing industry.

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