Consider a version of the dmp model where the value to not, Ask an Expert

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Consider a version of the DMP model where the value to not searching is zero for all workers. Should a searching worker fail to match, though, he or she receives b>0. Assume the other typical parameters: (k,z,a,e,m (Q,A)). (a) Given N workers, graphically illustrate the labor supply (Q) as a function of labor market tightness (j). (b) Write down a firm's profit function and substitute parameters appropriately. In equilibrium, what must hold?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91671153

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