Trident eco201 module 4 case and SLP

ECO201MOD4

Module 4 - Case

The Labor Market

Case Assignment

The Case Assignment focuses on several concepts from the labor market including marginal production, total production, and wage determination. These terms are important in determining how many workers will be hired by a firm.

Write a 4- to 5-page paper that addresses the following questions:

1.Discuss two factors that would increase demand for labor.

2.If the market price of the good or service that a firm produces increases, what happen to the demand of labor? Explain.

3.Suppose that some government-sanctioned licensing requirements are lifted (removed) in a particular industry. What would happen to the wage in this market? Explain.

4.Do some research on your own. In general, do you think the government should intervene in the labor market? (Be sure to cite your references.)

Assignment Expectations

Use concepts from the modular background readings as well as any good-quality resources you can find. Be sure to cite all sources within the text and provide a reference list at the end of the paper.

Length: 4–5 pages double-spaced and typed.

The following items will be assessed in particular:

•Your ability to understand marginal productivity and how firms make decisions.

•Some in-text references to the modular background material (APA formatting not required).

•The essay should address each element of the assignment. Remember to support your answers with solid references including the Case readings.

Upload your paper to the Case 4 dropbox when it is completed.

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Module 4 - SLP

The Labor Market

The Labor Market

Most firms require labor to produce output. The number of workers to hire is often an important decision of the firm because it affects the costs and profits of the firm. Write a 2- to 3-page paper on the following issues:

1.Suppose you are the manager of the firm. What advice would you give the owners to raise the productivity of its labor? Be specific in your proposal.

2.Several cities across the United States have passed legislation to raise the living wage. How would this policy affect your firm?

3.Use the readings from the background page. Make an argument for or against living wages in your city. (Note: the living wage calculator is a useful tool to determine the cost of living where you live).

SLP Assignment Expectations

Use concepts from the modular background readings as well as any good-quality resources you can find. Please be sure to cite all sources within the text and a reference list at the end of the paper.

Length: 2–3 pages double-spaced and typed.

The following items will be assessed in particular:

•Your ability to examine the labor market in a particular firm.

•Some in-text references to the modular background readings (APA formatting not required).

•The essay should address each element of the assignment. Remember to support your answers with solid references.