Suppose labor supply can be described as ES = 0.1w − 1000 where w is yearly salary. What yearly salary must be paid to encourage 6000 workers to accept jobs?
Suppose labor supply can be described as ES = 0.1w − 1000 where w is yearly salary. How many workers are willing to work when the yearly salary is $20,000?
Suppose labor demand can be described as ED = 120,000 − 1.5w where w is yearly salary. How many more workers are demanded at a going wage of $60,000?
What is likely to happen to the demand for firemen as building codes change to require firewalls and sprinklers to be included in all new construction?
A) The demand for firemen will fall as the demand for fire protection services falls.
B) The demand for firemen will increase as the supply of firemen falls when old buildings are replaced with newer buildings.
C) The demand for firemen will remain unchanged as firemen do not build new construction.
D) The demand for firemen will increase as long as wages paid to workers on new construction projects exceed the minimum wage.
E) The demand for firemen will remain unchanged as long as the property tax-base increases when the new construction projects are completed.