Consider the market labor demand L D and labor supply L S , where W is the
Question:
Consider the market labor demand L D and labor supply L S , where W is the market wage.
Demand: L D = 1,000 − 20 W Supply: L S = −200 + 400 W
(a) What is the equilibrium market wage? What is the equilibrium employment level?
(b) Calculate the equilibrium market wage and employment level if the workers negotiate a benefi t worth $1 that costs the employers $2.
(c) Calculate the equilibrium market wage and employment level if the workers negotiate a benefi t worth $2 that costs the employers $1.
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Related Book For 
The Economics Of Health And Health Care
ISBN: 9781138208049
8th Edition
Authors: Sherman Folland, Allen C. Goodman, Miron Stano
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