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Grocery workers are one of the essential workers in the time of COVID19 pandemic. One of...

Grocery workers are one of the essential workers in the time of COVID19 pandemic. One of the grocery workers are Costco workers. Suppose that the Costco company wants to hire more workers due to COVID 19 and Costco workers want to work fewer hours due to COVID 19. What will happen to equilibrium wage per hour of Costco workers and equilibrium number of hours of Costco workers? Analyze how equilibrium wage and number of working hours will change due to COVID 19 in three graphs because there may be three cases depending on the relative size of change in labor demand and labor supply. Label clearly Y-axis, X-axis, and two equilibrium points as E0 before COVID 19 and as E1 after COVID 19 and labor demand and supply as LD0 and LS0before COVID 19 and labor demand and supply as LD1 and LS1 after COVID19. Show the change in equilibrium wage and working hours by arrows and summarize how these two (wage and working hours) changes in each case in words after drawing graphs.

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Grocery workers are one of the essential workers in the time of COVID19 pandemic. One of the grocery workers are Costco workers. Suppose that the Costco company wants to hire more workers due to COVID 19 and Costco workers want to work fewer hours due to COVID 19. What will happen to equilibrium wage per hour of Costco workers and equilibrium number of hours of Costco workers? Analyze how equilibrium wage and number of working hours will change due to COVID 19 in three graphs because there may be three cases depending on the relative size of change in labor demand and labor supply. Label clearly Y-axis, X-axis, and two equilibrium points as E0 before COVID 19 and as E1 after COVID 19 and labor demand and supply as LD0 and LS0before COVID 19 and labor demand and supply as LD1 and LS1 after COVID19. Show the change in equilibrium wage and working hours by arrows and summarize how these two (wage and working hours) changes in each case in words after drawing graphs.

It can be explained as clearly and graphically

Rahul Sunny answered 2 years ago
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