Question: Answer the following questions. When it needs bring examples, references and in-text citations. Do follow APA style throughout your writing. Answers should be minimum 2 pages, double space, Times New Romans.
1. When the crime rate falls in the area around a factory, what probably happens to wages at the factory? Explain logically.
2. Consider the following supply and demand table for bread. Draw supply and demand curve and mark the equilibrium price and quantity?
Price($) Quantity supplied Quantity demanded
1 10 75
2 20 55
3 35 35
4 50 25
5 60 10
3. Immigration is a fact of life in the United States. This will lead to a big boost in the labor supply. What field would you rather be in: a field where the demand for your kind of labor is elastic, or a field where the demand for kind of labor is inelastic? Explain?