Economics f583 june 2013 work and leisure exam!

are yooouuu serriooussss? I thought it was 'Discuss the extent to which government intervention is the best method in improving labor flexibility?'

are yooouuu serriooussss? I thought it was 'Discuss the extent to which government intervention is the best method in improving labor flexibility?'

I did that I think. How did you explain MRP? Did you draw diagrams like when MRP =MCL (MRP=demand curve) (MCL=supply curve) when these cross= quantity of labour and wage rate...then I said if the demand increase due to increase productivity of say doctors it increases MRP etc..and showed shifts...

OOOOOOh I never wrote anything about supply DAAAM!

I did question 3 and only when i reached the conclusion of part B did I realise that it asked for methods OTHER than Govt Intervention to improve flexibility. My essay was focused on govt intervention only. Assume im not going to get more than 13/20 for that.

SOOO GUTTED.

Not sure you had to talk about other methods, just the advantages and disadvantages of govt. intervention methods, and then overall say how effective they are in increasing flexibility

I believe that you are both right. You should counter your argument with why government intervention isn't the best method of improving labor flexibility and in the evaluation/judgement you can suggest the better methods, hence other ways.

I did question 2, something like:
a) Discuss the behaviour of monopoly firms.
b) Comment on the extent to which competition can create efficiency.

Did anyone else do this?