Question

Explain how the following events would affect the demand for labor.

A new education program administered by the company increases labor’s marginal product.
The firm completes a new plant with a larger workspace and new machinery.

Answer 1

1. Explain how the following events would affect the demand for labor.
a. A new education program administered by the company increases labor's marginal product.
b. The firm completes a new plant with a larger workspace and new machinery that workers can utilize and that does not substitute for the functions provided by workers' labor.

Answer 2

Explain how the following events would affect the demand for labor.
a. A new education program administered by the company increases labor's marginal product.
b. The firm completes a new plant with a larger workspace and new machinery that workers can utilize and that does not substitute for the functions provided by workers' labor.
can you graph this in a hypothetical example

Answer 3

I need to see the hypothetical graph work on this last question

Answer 4

2. Suppose that the objective of a union is to maximize the total dues paid to the union by its membership. Explain the union's strategy, in terms of the wage level and employment level, under the following two scenarios.

a. Union dues are a percentage of total earnings of the union membership.
b. Union dues are paid as a flat amount per union member employed