Suppose that you have the following information about the market for employees in your buisness: Supply: W=20+N Demand: W=40-N a. Suppose that the union negotiates a team size of only 5 employees. Draw this graphically and calculate the new equilibrium wage number of employees. b. Draw this graphically and calculate the equilibrium wage and number of employees hired.

Suppose that you have the following information about the market for employees in your buisness: Supply: W=20+N Demand: W=40-N a. Suppose that the union negotiates a team size of only 5 employees. Draw this graphically and calculate the new equilibrium wage number of employees. b. Draw this graphically and calculate the equilibrium wage and number of employees hired.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter29: Resource Markets

Section: Chapter Questions

Problem 14E

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