Usetutoringspotscode to get 8% OFF on your first order!

  • time icon24/7 online - support@tutoringspots.com
  • phone icon1-316-444-1378 or 44-141-628-6690
  • login iconLogin

Economics Case Study

Suppose that the tourism department’s prediction of increased tourism activities and investment has been proved right. Use appropriate diagrams to answer [Hint: Let’s assume the labor market in tourism industry is perfectly competitive]: (a) What should be the new wage level in the tourism industry? (b) If due to huge union pressure, the government sets minimum wage above this equilibrium wage, what should be the consequence? What would happen to social welfare?

You can leave a response, or trackback from your own site.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes