Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
I really need help on how to improve these sample answers to make them more complete.
1. The labor market in a country named Overthereica is perfectly competitive and in long-run equilibrium. Suppose a civil war in Farflungia, a neighboring company, causes many Farflungian workers to come to Overthereica and enter the Overtherican labor market.
(i) The wage of the workers
The wage of workers will decrease due to the increase in the supply of labor.
(ii) A typical firm’s production costs
A firm’s production costs will decrease since the price of labor decreased.
(iii) The price of goods produced by the workers
With lower labor costs, the supply of goods increases. An increase in supply causes the price to decrease.
2.Now assume that the demand for the goods produced by the workers in part (A) of this question decreases. Explain how this decrease in demand will affect the following:
(i) The price of the goods produced by the workers
The decrease in demand pushes the price down even further.
(ii) The demand for labor in Overthereica
Firms will demand less labor, since the demand for the good labor depends on decreases.
(iii) The wage of the workers
Wages will decrease even more as the demand for labor decreases.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more