Order ID:89JHGSJE83839 Style:APA/MLA/Harvard/Chicago Pages:5-10 Instructions:
Economics 1. Suppose there are two labour markets in the country: Market #1 supply ????1 ⟹ ????1 = 60 + 0.5????1 and demand ????1 ⟹ ????1 = 160 − 0.5????1 Market #2 supply ????2 ⟹ ????2 = 40 + ????2 and demand ????2 ⟹ ????2 = 180 − ????2 with ???? as wage and ???? as number of workers. Plot the supply and demand curves in each market. Determine the equilibrium wage ???? ∗ , employment ???? ∗ , and total wage bill ????????????∗ in each market. Suppose Market #1 is unionized with union wage ????̅1 = 130. Use the given equations to determine the quantity supplied ????̅1 ???? and demanded ????̅1 ???? of labour. Calculate the adverse employment effect, induced unemployment effect, involuntary unemployment, and total wage bill ???????????? ̅̅̅̅̅̅̅ 1. Plot your results in the graph for Market #1. Explain how the spillover works into Market #2. Determine the equation for the effective labour supply curve ????̅ 2 and plot it in the graph for
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The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
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Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
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48-1 points
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