Question: What determines the demand for labor for a firm operating in a perfectly competitive output market? What determines the demand for labor for a firm

  1. What determines the demand for labor for a firm operating in a perfectly competitive output market?
  2. What determines the demand for labor for a firm with market power in the output market?
  3. If the United States allows a greater quantity of highly skilled workers, what will be the impact on the average wages of highly skilled employees? Explain your response.
  4. Explain how one could create government program that would give an incentive for labor to increase hours and keep labor from falling into the poverty trap.
  5. Describe how a push for economic equality might reduce incentives to work and produce output. Then describe how a push for economic inequality might not have such effects.

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The senders expertise; certification, i.e. the senders educational background