1 (b) Explain why the supply curve for labor is upward sloping in an industry. (b)...

1 (b) Explain why the supply curve for labor is upward sloping in an industry.

(b) Discuss three basic strategies unions use to raise wages

Expert Solution

Rahul Sunny answered 3 months ago

Explain why supply curve are upward sloping?

1. Explain why the Aggregate Supply curve is upward sloping?

Why supply curve is upward sloping?

The market supply curve for labor is upward sloping and the market demand curve for labor...

The market supply curve for labor is upward sloping and the market demand curve for labor is downward sloping yet for a single firm the demand curve is flat. Explain. I really dont need the answer, but if someone could explain what this is asking. I get that the market supply curve slopes upward and the demand curve slopes downward, but what exactly is the question getting at when it says a single firm is flat. Is it referring to...

13. A. Why is the labor demand curve downward sloping? B. Why is the labor supply...

13. A. Why is the labor demand curve downward sloping? B. Why is the labor supply curve upward sloping for the market and horizontal for the firm, and what is the MFC?

Graph a labor supply curve with an upward-sloping labor supply. Label the vertical axis as “wage...

Graph a labor supply curve with an upward-sloping labor supply. Label the vertical axis as “wage rate” and the horizontal axis with “Quantity of labor” a. Place these two points on the curve: {wage= $10, quantity = 30} and {wage = $12, quantity = 45}. Calculate the labor supply elasticity.Label this curve as “Curve A” b. Now, assume that something has changed the labor supply curve so that now the line has a different slope. On this new curve are...

1. Explain in your own words why aggregate supply curve is upward sloping? Include graph with...

1. Explain in your own words why aggregate supply curve is upward sloping? Include graph with your answers. 2. Explain briefly the four major components of aggregate demand. 3. Explain in your own words the multiplier effects of government spending on Aggregate Demand. Include graph with your answer. 4. Explain in your own words how an increase in aggregate demand creates inflation. Include graph with your answer. 5. Describe in your own words how bank creates money.

Given downward-sloping demand for labor and upward-sloping supply of labor, explain if wage increases, decreases, or...

Given downward-sloping demand for labor and upward-sloping supply of labor, explain if wage increases, decreases, or has an indeterminate effect if (a) the number of qualified workers decreases and (b) the number of employers increases. Answer (a) and (b) as two different cases.

Why is the AD-curve downward sloping? 2. Why is the AS-curve upward sloping in the intermediate...

Why is the AD-curve downward sloping? 2. Why is the AS-curve upward sloping in the intermediate run? 3. True or false? Why? “Monetary policy does not affect real output in the Keynesian supply curve model.” 4.“In the classical AS-curve case, an increase in government spending will increase interest rates and real money balances.” Comment on this statement. 5. Comment on the following statement: “In the classical aggregate supply curve model, the economy is always at the full-employment level of...

Why is marginal cost curve upward sloping?

Question