Equilibrium wage and labor demand, Macroeconomics

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Equilibrium wage and labor demand

Suppose that the supply curve for bus drivers is w=200+.02L and the demand curve for bus drivers is w=2800-.02L, where L = number of bus drivers and w= the wage.

a. Sketch the supply curve the demand curve. Be sure to indicate the equilibrium wage and demand for labor in the diagram.

b. Calculate the equilibrium wage and labor demand.

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Macroeconomics: Equilibrium wage and labor demand

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Macroeconomics: Equilibrium wage and labor demand

Reference No:- TGS066828

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Recent Questions Asked Macroeconomics

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Macroeconomics: Equilibrium wage and labor demand

Reference No:- TGS066828

Recent Questions Asked Macroeconomics

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