Chun Law ECO345 Chapter 4 fall over Question 4. If the prohibition of root word operate oners is repealed, this go away result in a substitute effect and make the labor movement quest curve for pulverization workers to a greater extent than elastic. The greater possibility to substitute, the greater elasticity. Chapter 5 retrospect Question 8. The baseball team had paid $24 one million million million to sham X for playing in the team for 4 years already no matter fake X stays in the team or not. If they hire a new musician to replace shammer X, the cost on the team is not only the salary of the new player but also the salary the team had paid to player X. Therefore, the manager of the baseball team refuse to hire a new player to replace player X. Problems 2. 5. (a.) Wages| cede of Labor| Total Labor Cost| MEL| 4| 18| 72| | 5| 19| 95| 23| 6| 20| 120| 25| 7| 21| 147| 27| 8| 22| 176| 29| 6. (b.
) The hours of labor will be 20 and the wages will be $6. Chapter 6 Review Question 2. This source indicates that higher wages will get on much mint to work resulting in an increase of the labor force participation rate. The reason is that more people will spend more time to work than leisure, because spending time on work will be more valuable. 8. lessen the marginal value rate will give more money to the workers from their wage checks. Nevertheless, the workers may need to pay more taxes due to the eliminating of implication and loophole. Therefore, the tax revenue could stay constant.If you trust to get a full essay, order it on our webs ite:
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