automation impact the job market within the next few

Q: What is meant by the supply of labour to an occupation?

A: Supply of a good is the amount of that good which the sellers are willing and able to offer at each…

Q: Taco King produces tacos. The market for tacos is perfectly competitive, and the price is $2.00 a…

A: In competitive market there are many sellers and many buyers, each with no market power.

Q: Is it rational for a firm to hire the 3rd worker? Why and Why not? Is it rational for a firm to hire…

A: This table shows that firm has the production function which exhibits the LAW of Variable proportion…

Q: n is an employer forced to keep the labor cost low?     A. When the product demand is inelastic.…

A: The wage rate will be competitive in the market structure where competition is high. When demand…

Q: Some people claim that degrees in liberal arts do not really train students for the job market.…

A: When talking about the degrees in liberal arts, it is given that these degrees do not add the…

Q: Base on this video titled "The Great Resignation: Why Millions Of Workers Are Quitting",…

A: In the video, the prime reason of the great resignation has been of the Lack of flexibility  20%,…

Q: Draw a labour market diagram that represents the supply and demand of labour and explain why one of…

A: Wage rate is determined in labour market by market forces demand for labour and supply of it . When…

Q: waiters/waitresses are paid largely in the tips they receive from customers rather than in wages

A: Restaurant waiters and waitresses largely get wages in the form of tips. This is the process set to…

Q: State true or false with reason "self employed are different from hired workers "

A: Money is required for individuals and currently money is used in the form of currency with exchange…

Q: A technological advance that increases laborproductivity willa. lower wages.b. decrease the demand…

A: Productivity measures the efficiency of inputs in producing the given level of output. It is the…

Q: In a competitive labour market, businesses seek to maximize profits at the least cost (ie.…

A: In a competitive labor market , a firm maximizes its profits and optimizes its input costs at the…

Q: Think about the labor market for orthodontists in the United States. Suppose a union is organized,…

A: The labor market is in equilibrium when the market demand for labor commensurates with the market…

Q: Describe how the firm decides whether to offer a safe working environment or a risky environment.

A: Ste 1-  The safety of the workplace is very necessary for each employee of the firm where they can…

Q: 20. If 100 domestic workers work at $20 per hour, and 10 immigrant workers arrive willing to work at…

A: The labor market equilibrium is determined by the labor demand and labor supply in the market which…

Q: ppose that a large number of U.S.actuaries decide to take employment in Europe due to better…

A:

Q: The curvature of the isoutility curve illustrates: A) the amount of safety that can be exchanged for…

A: Iso Utility curve shows equal quantity of two of input and output which is also called iso-product…

Q: traditional theory predicts that labor demanded would supplied would a. Increase, increase b.…

A: A minimum wage is the least remuneration that employers can legally pay their employees—the price…

Q: The below graph shows the optimal asking wage. Suppose another individual with the same wage…

A: Marginal Cost (MC) refers to the rise in the total cost if one extra unit of a good or service is…

Q: Explain why labor productivity and real hourly compensation track so closely over time.

A: The labor is the individual who is willing to work at the prevailing wage rate in the economy. The…

Q: A measure of how sensitive the amount of labor firms will hire is to changes in the wage rate.

A: Explanation:  The physical property of labor demand is the quantitative relation of the…

Q: Question 12 Scenario 4 Suppose the supply curve of workers is given by w 14 + 6Es, while the demand…

A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…

Q: Labor markets are different from most other markets because labor demand is a. unresponsive to…

A: Labor markets are different from most other markets.

Q: define commodity fetishism and its relation to labor. Then, pick a popular commodity and describe…

A: "Commodity fetishism" is an idea that the relationship between the commodity and the individual…

Q: Full employment is related to how much work is available.

A: 'Classical economists’ believed that there was always a state of complete employment for economic…

Q: As more people from the baby boom generation retire this will cause _____ (no change in/rise/fall)…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: According to efficiency wage theory, what is NOT a reason that companies want to pay an efficiency…

A: Efficiency wage theory says that firms pay workers above competitive wage.

Q: What are the main causes of unemployment in Nambia?

A: The unemployment in Namibia is worse since the 1980s. Unemployment explained by the sum of all…

Q: Taco King produces tacos. The market for tacos is perfectly competitive, and the price is $2.00 a…

A: Perfectly competitive market Price per taco = $2 Wage rate per labor per day = $16 Increased Price…

Q: automation affect the job market over the next decade

A: Automation means the replacement of human efforts with machinary. This will help increase the…

Q: what is the relationship between wages and robbery?

A: Concept: Wages: In economics, wages refers to the price paid to the labor for the services rendered…

Q: The graph below depicts the major employer in a small town.   At what quantity of workers does the…

A: Marginal benefit of each labor is represented by the MRP curve and marginal cost of labor is…

Q: Why do minimum wage laws cause unemployment? Explain, using a supply and demand diagram.

A: Since 1938, the United States has had minimum wage legislation in place. Since then, the rate has…

Q: Question 1 of 5 When gathering information about certain occupations, be sure to understand how you…

A: The terms salary and hourly wages can be explained as: Salary can be defined as a fixed payment paid…

Q: Why are labour markets imperfect? Give five reasons.

A: Labor markets are imperfect since the wages anticipated by Marginal revenue product theory are not…

Q: What factor limits the amount a firm can pay a worker to produce a product?

A: The firm uses the labor or worker as long as it is profitable. The productivity of labor decides the…

Q: true or false? The entrance of more workers into a particular labor market is likely to drive down…

A: The market refers to a place where the sale and purchase of goods or services take place to fulfill…

Q: In 1997 and 1998, the economy expanded, increasing the demand for labor and pushing up wages.…

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

Q: 12 S 10 D Number of Workers 2 4 6. 10 12 14 16 18

A: Demand curve of labor is the derived demand. Derived demand is the demand which depends on the…

Q: Explain labour demand in short with a diagram

A: In economics, demand is the term that is used to define the need/requirement of a product or a…

Q: Female workers tend to earn a lower wage compared to their male counterparts when performing the…

A: Female workers tend to earn a lower wage compared to their male counterparts when performing the…

Q: the consumer's hours of work? What does this have to say about what we would observe about the…

A: The individual can spend the time available for two purposes: either work, or use it for leisure.