Scenario that cause a shift in labor supply and demand
Problem: Using such areas as manufacturing and information technology or any related industry/areas that have had high job growth rates explain a scenario that would cause a shift in labor supply and demand.
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Problem: Explain a real world factor that plays an important role in competition.
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What are the effects on American wages and purchasing power of the continued outsourcing of labor overseas. What are some of the reasons for these trends. What effect has this trend had on the American workforce; especially the working class?
Discuss the barriers to entry into an industry. Explain how each barrier can foster either monopoly or oligopoly. Which barriers, if any, do you feel give rise to monopoly that is socially justifiable?
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35% Turkey growers operate in a competitive, constant cost industry. This industry has reached a long run equilibrium at a price of $1 per pound of turkey. a. Illustrate the situation for a typical grower and the market. Show price, farm and market
Draw the supply curve for an individual firm. On a separate graph, draw the demand and supply curves for the industry as a whole. Indicate the equilibrium price and output.
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