Business, 24.10.2019 23:43 itasykamila

15 pts) in each of the following cases, a city is given together with an event that willaffect the city’s labor market. for each case, discuss whether the event will affect labordemand or labor supply and explain why. how does the event affect the equilibriumwage and employment level in the city? (a) (5 pts)city: a "motor city" where most people work in the automobile manu-facturing industry. event: petroleum-exporting countries agreed to cut crude oil production, whichhas increased gasoline price substantially all over the world.(b) (5 pts)city: a "furniture city" where most people work in the home furnituremanufacturing industry. event: the number of new homes sold has reached a record high for two consec-utive years during a housing market boom.(c) (5 pts)city: a "smog city" that is most infamous for its air pollution. event: the federal government has committed billions of dollars to clean up theair in the smog city, which won’t cost the city a penny.

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15 pts) in each of the following cases, a city is given together with an event that willaffect the c...

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