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Economics

Assume that the labor demand equation for a fictional country is Ld = 90 – 2w, where w is the wage per hour worked. Assume also that the labor supply equation for that country is Ls = 0.5(w)

a. The equilibrium wage is $_____ and the equilibrium quantity of labor employed is____ worker

b. At the equilibrium wage,____ people are unemployed.

c. If the supply of workers increased, the number of unemployed would:

increase, decrease, or stay the same?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91828317

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