Turn on thread page Beta
    Offline

    21
    ReputationRep:
    (Original post by MTennison)
    Quick question - how would you show the effect of an increase in productivity levels on unit labour costs (diagram wise)? I'm doing one of the 15 markers from June 2011 - "Analyse how changes in productivity levels impact on unit labour costs" and can't decide on a diagram to use. I'm thinking a fall in AC and MC, which would then result in a new equilibrium at MC = MR, with lower price and higher quantity. But that doesn't really show unit labour costs falling from a productivity increase - it shows the effect of unit labour costs falling.

    Is there even a diagram for what I'm asking?
    don' think there is a diagram - if there is i haven't seen it :/ thing is, that's the type of question that i would try and avoid at all costs personally, it's just so narrow and like you say, there's no diagram for it.
    Offline

    0
    ReputationRep:
    Can someone please explain MRP and how it is relevant to employment etc? We were never taught it properly!
    Offline

    0
    ReputationRep:
    MRP is the change to a firm's revenue due to employing one more worker. Therefore if workers are seen to have high MRP then this will make them more desirable to hire by firms. Thus this should lead to increase in employment levels. However it is usually the case that older workers have higher MRP than younger workers due to their past work experience and previous qualifications etc. which may mean that employment opportunities are only available for workers of an older age therefore may result in an increase in youth unemployment, depending on the nature/behaviour of the firm and the extent to which young employees lack experiences and training etc.

    I think that is right to some extent!
    Offline

    0
    ReputationRep:
    (Original post by dlm19)
    Can someone please explain MRP and how it is relevant to employment etc? We were never taught it properly!
    In a perfect labour market (i.e. no failures), MRP should be equal to your wage. Profit Maximising firms will hire up until the point of MRP = MC (i.e. when the products produced by a unit of labour equals its cost) - Q in the diagram. If MC > MRP, then the firm will lose money with hiring extra staff, and if MC < MRP, the firm will make abnormal profit.

    Attached Images
     
    Offline

    0
    ReputationRep:
    How long should 15/20 markers be roughly?
    Offline

    1
    ReputationRep:
    (Original post by Waloo)
    How long should 15/20 markers be roughly?
    Depends on the question...

    For the 15 markers you can attain up to 8 marks just by correctly drawing a diagram. That shows for a question of that nature written analysis wouldn't need to be too substantial...
    Offline

    5
    ReputationRep:
    anyone know what the june 2013 15/20 markers were? and if discuss the extent to which a leisure market of your choice is one of the market structures was on there?
    Offline

    0
    ReputationRep:
    anyone got any ideas on what will come up tomorrow based on previous papers etc?
    Offline

    14
    ReputationRep:
    Could anyone please explain me in detail about what is NAIRU? I can't never understand this concept!


    Posted from TSR Mobile
    Offline

    0
    ReputationRep:
    what textbook is everyone using for their information/revision? and also how much detail is it recommended to know the examples of leisure markets in? i'm pretty weak with the examples
    Offline

    0
    ReputationRep:
    (Original post by Rheannan)
    anyone know what the june 2013 15/20 markers were? and if discuss the extent to which a leisure market of your choice is one of the market structures was on there?
    Here you are

    http://sccecon.weebly.com/uploads/1/..._ms_june13.pdf
    Offline

    0
    ReputationRep:
    (Original post by tsimms)
    My dream paper tomorrow...

    Section A

    Case study on the cinema industry and oligopolies.


    Section B

    (a) Analyse, using a diagram, the behaviour of a monopsony. [15]

    (b) Discuss the extent to which a monopsony is the main determinant of wages. [20]
    how would you answer part b?
    Offline

    0
    ReputationRep:
    for a question regarding whether a leisure market of your choice is an oligopoly? would you draw the kinked demand graph? (is it a bit irrelevant?). i know you could draw the monopolistic competition graph as an alternative to a oligopoly.
    Offline

    0
    ReputationRep:
    also for a economies of scale or factors of elasticity of supply for labour and elasticity of demand for labour what graphs would you draw?
    Offline

    0
    ReputationRep:
    (Original post by Mrgp)
    also for a economies of scale or factors of elasticity of supply for labour and elasticity of demand for labour what graphs would you draw?
    For economies of scale you can draw a U shaped LRAC curve.
    For the elasticity of demand/supply, you can just draw inelastic/elastic demand and supply curves.
    Offline

    14
    ReputationRep:
    Do we need to learn the theory of discrimination?


    Posted from TSR Mobile
    Offline

    1
    ReputationRep:
    (Original post by May-o2q)
    Do we need to learn the theory of discrimination?


    Posted from TSR Mobile
    I strongly feel that it might come up as an 8 marker just before the 15/20, so would advice you to know about beckers theory and statistical.
    Offline

    9
    ReputationRep:
    Haha what a bull**** subject, ****ing retards
    Offline

    0
    ReputationRep:
    In a competitive market, why is the supply of labour curve perfectly elastic i.e. flat?
    Offline

    1
    ReputationRep:
    (Original post by May-o2q)
    Could anyone please explain me in detail about what is NAIRU? I can't never understand this concept!


    Posted from TSR Mobile
    If they ask then...

    NAIRU - Non-accelerating inflation rate of unemployment.
    In the diagram the LF should actually be ALF (Aggregate labour force) and ASL is the aggregate supply of labour. NAIRU is also know as equilibrium unemployment (whereas disequilibrium unemployment is cyclical where there is a lack of AD). As the wage rate rises, the gap between the ASL and ALF narrows because more people are willing to work at a high wage rate.
    NAIRU is basically consistent with the level of unemployment at which there is no upward pressure of the wage rate and inflation (non acceleration inflation rate of unemp, get it?)

    Make sure you know about eq. and diseq. unemployment because it can come up as a 15 marker, or atleast im hoping it will.

    Also equilibrium unemployment is unemployment that exists when the labour market is in equilibrium (so im guessing it suggests that its not too harmful)
 
 
 

University open days

  • University of Bradford
    All faculties Undergraduate
    Wed, 21 Nov '18
  • Buckinghamshire New University
    All Faculties Postgraduate
    Wed, 21 Nov '18
  • Heriot-Watt University
    All Schools Postgraduate
    Wed, 21 Nov '18
Poll
Black Friday: Yay or Nay?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.