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LABR 1F90 Lecture Notes - Lecture 5: Richard Epstein, Whois

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mauvewalrus359
1 Feb 2018
School
Brock University
Department
Labour Studies
Course
LABR 1F90
Professor
Alison Braley- Rattai

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Document Summary

Canada only has about 30% of its workers unionized, this leaves 70 % without a labour union. Workers are highly (cid:373)oti(cid:448)ated (cid:271)y (cid:449)hat they feel is (cid:862)hu(cid:373)a(cid:374) (cid:374)ature. (cid:863) a se(cid:374)se that they are (cid:271)ei(cid:374)g treated fairly. What we believe the ground rules ought to be is how you believe those outcomes are best achieved. Whose interest is served by those particular ground rules: owner, worker. Health and safety issues that an employee may feel is unsafe but the employee may feel is not safe. Being told one thing but something else is true. View on market regulation are formed by how one views the work relationship. Relations trying to capture the type of relations. Legal governed by a series of laws and rules. Historically this has not always been the case as. Earlier no human rights laws, no minimum wage laws, no health and safety laws.

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Related Questions

1. What is the difference between explicit and implicit costs? Which of the costs is most closely associated with opportunity costs and why? Give three examples of each type of costs that you have incurred over the past 30 days. (10)

b. State and explain the law of diminishing returns. How might this law apply if you were studying for an examination for an online course? (15)

c. We do not stop working (or, stop studying for an exam) simply because we run into diminishing returns. Why is that? (10)

d. Explain the relationship between AP and MP. Be sure to state how they relate to each other when the MP is greater than, equal to and less than the AP. (15)

e. Suppose that 0 workers generate 0 output, 1 worker generates 8 units of output, 2 workers generate 20, 3 workers generate 35, 4 workers generate 45, and 5 workers generate 47 units of output, 6 workers generate 47 units of output, while 7 workers generate 44 units of output. Show all work.

f. Calculate the MP and the AP for each worker (15)

g. At what point do diminishing returns set in? How would we know this had occurred? (5)

h. Clearly and accurately graph the TP curve, MP curve, AP curve based on the above data (30)

1. Due to the recent downturn in economic activity, Taz has seen his hours at work reduced. He used to work 30 hours a week at $13 an hour, but now he works 22 hours. Due to this change, he noticed he purchased more boxed Macaroni and Cheese, up from 1 box a week to 4. He also reduced his purchase of Coke from 2 12-packs to 1 12-pack per week.

i) What is the income elasticity of macaroni and cheese for Taz?

ii) What type of good is Macaroni and cheese for Taz?

iii) What is the income elasticity of Coke for Taz?

iv) What type of good is Coke for Taz?

2. Syesha loves to eat Sunday breakfast at her local Scrambles restaurant. She usually orders a la carte. Her usual breakfast consists of 2 scrambled eggs, 1 piece of bacon, and 2 links of sausage. The price of an egg, a sausage link, and a piece of bacon are all $1. Thus her breakfast has a price of $5.

Scramble restaurant changes the price of eggs to $1.50. She now orders the following for her breakfast:

1 scrambled egg, 2 pieces of bacon, and 1 sausage link.

i) Calculate the cross-price elasticity of eggs and sausage.

ii) What type of relationship is there between eggs and sausage?

iii) Calculate the cross-price elasticity of eggs and bacon?

iv) What type of relationship is there between eggs and bacon?

I need numbers 3, 5, 7, 9 done. Work must be shown.

11 and 13 also