Suppose labor supply is given by w=10+2L(s), where w denotes the wage. Labor demand is given by w= 100-L(d).

(a) Calculate the equilibrium labor quantity and the corresponding wage

(b) Now assume the city imposes an environmental tax of $10 per unit of labor on firms. As a result, companies will now lower their willingness to pay for labor by $10 per worker. The city uses the money to beautify the local park, which attracts many workers to the city. An economic consultant firm finds out the labor supply curve will shift because workers will be happy with a wage that is $16 lower than before the improvement. Calculate the new equilibrium wage and the new number of jobs. Compared to (a), will the number of jobs increase or decrease?

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Lavage rapide is a canadian company that owns and operates a large automatic car wash facility near montreal. the following table provides data concerning the company’s costs: fixed cost per month cost per car washed cleaning supplies $ 0.70 electricity $ 1,400 $ 0.07 maintenance $ 0.15 wages and salaries $ 4,900 $ 0.30 depreciation $ 8,300 rent $ 1,900 administrative expenses $ 1,400 $ 0.03 for example, electricity costs are $1,400 per month plus $0.07 per car washed. the company expects to wash 8,000 cars in august and to collect an average of $6.50 per car washed. the actual operating results for august appear below. lavage rapide income statement for the month ended august 31 actual cars washed 8,100 revenue $ 54,100 expenses: cleaning supplies 6,100 electricity 1,930 maintenance 1,440 wages and salaries 7,660 depreciation 8,300 rent 2,100 administrative expenses 1,540 total expense 29,070 net operating income $ 25,030 required: calculate the company's revenue and spending variances for august.

True or flase? a. new technological developments can us adapt to depleting sources of natural resources. b. research and development funds from the government to private industry never pay off for the country as a whole; they only increase the profits of rich corporations. c. in order for fledgling industries in poor nations to thrive, they must receive protection from foreign trade. d. countries with few natural resources will always be poor. e. as long as real gdp (gross domestic product) grows at a slower rate than the population, per capita real gdp increases.