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Chun Law ECO345 Chapter 4 go off Question 4. If the prohibition of home operate oners is repealed, this lead result in a alternate effect and make the crusade quest curve for pulverization workers to a greater extent than elastic. The greater possibility to substitute, the greater elasticity. Chapter 5 recapitulation Question 8. The baseball team had paid $24 cardinal to sham X for playing in the team for 4 years already no matter fake X stays in the team or not. If they hire a new histrion to replace imposter X, the cost on the team is not only the salary of the new player but also the salary the team had paid to player X. Therefore, the manager of the baseball team refuse to hire a new player to replace player X. Problems 2. 5. (a.) Wages| tack on of Labor| Total Labor Cost| MEL| 4| 18| 72| | 5| 19| 95| 23| 6| 20| 120| 25| 7| 21| 147| 27| 8| 22| 176| 29| 6. (b.

) The hours of labor will be 20 and the wages will be $6. Chapter 6 Review Question 2. This source indicates that higher wages will sanction more mint to work resulting in an increase of the labor force participation rate. The reason is that more people will spend more judgment of conviction to work than leisure, because spending time on work will be more valuable. 8. reducing the marginal value rate will give more money to the workers from their wage checks. Nevertheless, the workers may need to pay more taxes due to the eliminating of implication and loophole. Therefore, the tax revenue could stay constant.If you wish to get a full essay, order it on our website: BestEssayCheap.com

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