MGEB06H3 Lecture 1: Solution_(Ch_3_Tut_1)(1)

82 views2 pages
5 Oct 2015
School
Course
Professor
MGEB06 –Chapter 3 Tutorial 1 Answer Key
This answer key aims at helping you to check your answer and you WILL NOT receive full
credit if you do not show your work and/or provide explanation in your assignments and
exams.
Question 1
There will be an increase in labour supply in the low-skilled labour market:
(W/P)low-skilled  to (W/P)1low-skillled.
The labour supply in the high-skilled labour market remains unchanged:
(W/P)high-skilled remains unchanged at (W/P)0hihg-skilled.
Low-skilled labour market High-skilled labour Market
(W/P)low-skilled LS0low-skilled LS1low-skilled (W/P)high-skilled
LS0high-skilled
(W/P)0high-skilled
(W/P)0low-skilled
(W/P)1low-skilled
MPLlow-skilled MPLhigh-skilled
LLS LHS
L0LS L1LS L0HS
1
Chapter 3 Tutorial 1 Answer Key
Unlock document

This preview shows half of the first page of the document.
Unlock all 2 pages and 3 million more documents.

Already have an account? Log in

Get OneClass Notes+

Unlimited access to class notes and textbook notes.

YearlyBest Value
75% OFF
$8 USD/m
Monthly
$30 USD/m
You will be charged $96 USD upfront and auto renewed at the end of each cycle. You may cancel anytime under Payment Settings. For more information, see our Terms and Privacy.
Payments are encrypted using 256-bit SSL. Powered by Stripe.