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Labor Economics describeed in this solution

Suppose that that marginal revenue and marginal cost of job search are MR=50 - 1.5w and MC = 5 + w.

(i) What is the worker's asking wage?

(ii) Would the worker accept a $15 wage offer?

(iii) Would anything change if unemployment benefits were reduced such that the y-intercept of the MC curve increased four-fold. Show graphically.

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M924149

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