The labour market for berry pickers in the Okanagan Valley (in numbers of workers per week) is shown in below table. Hourly Wage Rate ($) 8 10 12 14 16 Supply of Labour 300 350 400 450 500 The data for Busy Berries is shown in below table. # Workers hired 20 40 60 80 100 MRP $16 14 12 10 8 a. How many workers will Busy Berries hire? 40 workers Demand for Labour 600 550 500 450 400 b. If the supply of labour increased by 100 workers at every wage rate, what effect would this have on the number of workers that Bus Berries hires? 60 D workers
The labour market for berry pickers in the Okanagan Valley (in numbers of workers per week) is shown in below table. Hourly Wage Rate ($) 8 10 12 14 16 Supply of Labour 300 350 400 450 500 The data for Busy Berries is shown in below table. # Workers hired 20 40 60 80 100 MRP $16 14 12 10 8 a. How many workers will Busy Berries hire? 40 workers Demand for Labour 600 550 500 450 400 b. If the supply of labour increased by 100 workers at every wage rate, what effect would this have on the number of workers that Bus Berries hires? 60 D workers
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter19: Labor And Entrepreneurship: The Human Inputs
Section: Chapter Questions
Problem 4TY
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