On The Following Graph Use The Green Line Triangle Symbol To Show The Effect This Employer Mandate Has On The Demand 1 (39.42 KiB) Viewed 10 times
On the following graph, use the green line (triangle symbol) to show the effect this employer mandate has on the demand for labor. 20 Demand Supply XI 8 18 16 14 12 10 0 0 1 2 3 4 5 Quantity of Labor (Thousands) 9 10 Suppose employees place a value on this benefit exactly equal to its cost. Suppose the wage is free to balance supply and demand. O True ⒸFalse New Demand True or False: Employers and employees are made better off by this law. New Supply Equilibrium Before Law On the preceding graph, use the purple line (diamond symbol) to show the effect this employer mandate has on the supply of labor. Equilibrium After Law (?) Use the black point (plus symbol) to indicate the equilibrium wage and level of employment before this law, and use the grey point (star symbol) to indicate the equilibrium wage and level of employment after this law is implemented.
Suppose that, before the mandate, the wage in this market was $2 above the minimum wage. In this case, the wage rate with the employer mandate will be $ in the level of unemployment. Now suppose that workers do not value the mandated benefit at all. per hour, which will lead to Which of the following statements are true under this circumstance? Check all that apply. ☐ Employees are neither better nor worse off than before the mandated benefit. Employers are worse off than before the mandated benefit. The wage rate will decline by exactly $3. The supply curve of labor doesn't shift at all. The equilibrium quantity of labor will rise. in the level of employment and
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