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Question: Shifts in the labor supply curve The following graph shows the labor market for computer analysts…
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Question: Shifts in the labor supply curve The following graph shows the labor market for computer analysts...

Question: Shifts in the labor supply curve The following graph shows the labor market for computer analysts...

Show transcribed image text Shifts in the labor supply curve The following graph shows the labor market for computer analysts in the United States. Suppose that a large number of U.S. computer analysts decide to take employment in Europe due to better benefits and work environments at European companies. Adjust the following graph to show the effect of the emigration on the U.S. labor market for computer analysts, all other things held constant. Tool tip: Click and drag one or both of the curves. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just try again and drag it a little farther. As a result of the emigration, the equilibrium wage in the labor market for computer analysts , and the equilibrium quantity of labor in the market for computer analysts . Putting supply and demand together Consider the labor market for the fast-food industry, which consists mainly of high school and college students. Assume that all fast-food restaurants are profit maximizing. The calculator below shows the market demand curve (blue curve) and market supply curve (orange curve) for student workers, who are responsible for making hamburgers. At any time in this problem, you can click the Reset to Initial Values button to return the elements in the calculator to their original positions. You will not be graded on any changes to the calculator; it's just here to help you answer the following questions. Tool tip: Use your mouse to drag the horizontal green line on the graph. The values in the boxes on the right side of the calculator will change accordingly. You also can directly change the values in the boxes with the white background by clicking in the box and typing. The graph and any related values will change accordingly. When the price of a hamburger is $4, the equilibrium wage in the fast-food labor market is Suppose that the demand for hamburgers increases enough so that the price of a hamburger doubles. Ordinarily, this would result in a new equilibrium employment level and wage in the labor market for young people who work in fast-food restaurants. However, restaurants claim they can only afford to pay the initial equilibrium wage. In this labor market, if the price of hamburgers doubles, but restaurants continue to pay the equilibrium wage that prevailed before the increase in demand for hamburgers, there will be a labor of workers.

Shifts in the labor supply curve The following graph shows the labor market for computer analysts in the United States. Suppose that a large number of U.S. computer analysts decide to take employment in Europe due to better benefits and work environments at European companies. Adjust the following graph to show the effect of the emigration on the U.S. labor market for computer analysts, all other things held constant. Tool tip: Click and drag one or both of the curves. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just try again and drag it a little farther. As a result of the emigration, the equilibrium wage in the labor market for computer analysts , and the equilibrium quantity of labor in the market for computer analysts . Putting supply and demand together Consider the labor market for the fast-food industry, which consists mainly of high school and college students. Assume that all fast-food restaurants are profit maximizing. The calculator below shows the market demand curve (blue curve) and market supply curve (orange curve) for student workers, who are responsible for making hamburgers. At any time in this problem, you can click the Reset to Initial Values button to return the elements in the calculator to their original positions. You will not be graded on any changes to the calculator; it's just here to help you answer the following questions. Tool tip: Use your mouse to drag the horizontal green line on the graph. The values in the boxes on the right side of the calculator will change accordingly. You also can directly change the values in the boxes with the white background by clicking in the box and typing. The graph and any related values will change accordingly. When the price of a hamburger is $4, the equilibrium wage in the fast-food labor market is Suppose that the demand for hamburgers increases enough so that the price of a hamburger doubles. Ordinarily, this would result in a new equilibrium employment level and wage in the labor market for young people who work in fast-food restaurants. However, restaurants claim they can only afford to pay the initial equilibrium wage. In this labor market, if the price of hamburgers doubles, but restaurants continue to pay the equilibrium wage that prevailed before the increase in demand for hamburgers, there will be a labor of workers.

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