Paper instructions:
Starting from the perfect competition model, discuss the impact in the labour market that one of the sides has market power.
You should give and explain at least one example of (1) employers having market power (2) employees having such power, and another example of a (3) bilateral monopoly.

This needs diagrams and maximum 500 words

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Suppose we are analyzing the market for oranges in 2017. Graphically illustrate the impact of each of the following events would have on supply and demand curves. Also show how equilibrium price and quantity would change in each scenario. See instruction video, “Week 2_Homework Guideline.ppsm”. Make sure you provide narrative discussions on each scenario to receive full credits

A. In 2017, Wildfires destroyed a majority of orange farms, reducing orange production substantially (minimum words requirement: 100 words)

B. The price of apple, orange substitute, decreased in 2017.

(minimum words requirement: 100 words)

C. The price of orange in 2018 is expected to rise dramatically compared to 2017

(minimum words requirement: 100 words)

D. The United States Census Bureau reported that household income dramatically increased in 2017

(minimum words requirement: 100 words)

Note that you must submit everything (discussions and graphical analysis) in one word or pdf document, otherwise, I will return your assignment. Separate files or documents will not be accepted.