Policies” Page: – 117 given in your textbook – “Principles of Macroeconomics”. A case study discusses the federal minimum-wage law. Questions: 1 Suppose the minimum wage is above the equilibrium wage in the market for unskilled labor. Using a supply and-demand diagram of the market for unskilled labor, show the market wage, the number of […]
Tag Archives: Elasticities
Does the change in employment depend on the elasticity of demand, the elasticity of supply, both elasticities, or neither?
read the case “The Minimum Wage” from Chapter 6 “Supply, Demand, and Government Policies” Page: – 117 given in your textbook – “Principles of Macroeconomics”. A case study discusses the federal minimum-wage law. Questions: 1 Suppose the minimum wage is above the equilibrium wage in the market for unskilled labor. Using a supply and-demand […]
Describe the last time you used a coupon or a rebate, and another time where you knew a coupon might be available and yet chose to not bother with it.
One method of price discrimination for firms is the use of coupons and rebates. Firms are basically allowing consumers to self-identify their respective price elasticities of demand for a product. Describe the last time you used a coupon or a rebate, and another time where you knew a coupon might be available and yet chose […]
