Question: 3) Skill Matching a) Employ the skill circle model and calculate skill range, skill gap, and total labor cost per worker when there are 120

3) Skill Matching

a) Employ the skill circle model and calculate skill range, skill gap, and total labor cost per worker when there are 120 workers and unit training cost is $864/h and the wage equals $60/h.

b) Now assume the firm moves to a smaller location and the number of worker is only half of what is was at the first location. Will labor cost be half as well? Calculate!

4) Skill Matching

a) Employ the skill circle model and assume that Total Labor cost equals $26/h. Assuming a unit training cost of $248 and wages are $24, how many firms, and how many workers are there?

b) If the skill gap equals (1/2x), what is the number of firms?

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