Math Solutions

[See Steps] Suppose that the supply curve for schoolteachers is L s = 20 000 + 350W and the demand curve for teachers is L D = 100 000 - 150W, where L =

Question: Suppose that the supply curve for schoolteachers is L s = 20 000 + 350W and the demand curve for teachers is L D = 100 000 – 150W, where L = the number of teachers and W = the daily wage.

  1. a. Plot the supply and demand curves.
  2. b. What are the equilibrium wage and employment level in this market?
  3. c. Now suppose that at any given wage 20 000 more workers are willing to work as schoolteachers. Plot the new supply curve and find the new wage and employment level. Why doesn’t employment grow by 20 000?

Price: $2.99
Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document


∴ Other downloads you may be interested in ∴

log in to your account

Forgot password?
Don't have a membership account?
REGISTER

reset password

Back to
log in

sign up

Back to
log in