StudentEconomist

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@mirzaahmed6589 2 ай бұрын

No one is a victim of the free market.

@davidwedderburn7005 4 ай бұрын

goat

@kimanileslie7640 4 ай бұрын

I’m so glad I found this paper I’ve been searching everywhere! But question 42 is; D) A decrease in the quantity of labour demanded Higher wages typically increase the cost of labor for employers, leading them to reduce the number of workers they hire. In an imperfectly competitive market, firms may not have the ability to pass on higher costs to consumers through higher prices, which further compels them to cut back on the amount of labor they demand.

@1StudentEconomist 4 ай бұрын

If we are talking about a perfectly competitive labour market then I solemnly agree with this statement but lest you forget that in an imperfectly competitive market, both the firm (usually a monopsonist) and the employees (through collective bargaining efforts in a trade union) both have the ability to influence the wage rate. With the market power of the monopsonist, he has the ability to buy labour at lower cost on the supply of labour curve under the profit maximization MCL=MRP assumption. This low wage encourages workers at the profit maximizing output to bargain for higher wages at the regular equilibrium of supply and demand of labour which induces both an increase in wage rate and employment. However, I will acknowledge that quantity of labour demanded can indeed decrease in an imperfectly competitive labour market, like you said, but that is only if the trade union bargains for a wage rate that goes above the higher wage rate where MRP=MCL. This situation is more unlikely than the increase in employment as a rational monopsonist would not agree to such terms. For further clarification and illustration, see my most recent video below: kzbin.info/www/bejne/kIPNg4CrmrmkrNE Hope this helps❤️

@avishkarpersaud8695 4 ай бұрын

much appreciated for the videos sir 👍

@ricardonunes1939 4 ай бұрын

Thank you sir🙏

@Myra-mc4kx 4 ай бұрын

Sir i wanna thank you for taking time out to do a great span of these papers in such a short time frame and because of you i feel like i am ready for the exam 🙏🙏

@1StudentEconomist 4 ай бұрын

Thanks. This is why I do what I do.😁

@1StudentEconomist 4 ай бұрын

23:04 #39 is A (an increase in the level of employment) not D

@kandiabrown7013 4 ай бұрын

can u explain how sir?

@1StudentEconomist 4 ай бұрын

@@kandiabrown7013 Hey I explained it in this video kzbin.info/www/bejne/kIPNg4CrmrmkrNE

@1StudentEconomist 4 ай бұрын

17:06 #39 is A (an increase in the level of employment) not D

@tpcinema5505 4 ай бұрын

Up ino sir

@1StudentEconomist 4 ай бұрын

15:06 #39 is A (an increase in employment levels) not D

@salagundo 4 ай бұрын

nahh u were right with D. it asked for a consequence (negative effect)

@1StudentEconomist 4 ай бұрын

@@salagundo Check out the latest video where I explain why the answer is A kzbin.info/www/bejne/kIPNg4CrmrmkrNE

@mcneilkerr6643 4 ай бұрын

Thank you 🙌

@yourgirltt1162 4 ай бұрын

Thank you

@1StudentEconomist 4 ай бұрын

6:54 #23 is C (adverse selection) not D

@1StudentEconomist 4 ай бұрын

2:28 #4 is B (a pivot inwards from the beef axis) not A 14:44 #28 is B (excludable and non-rival) not A 21:25 #42 is A (an increase in the level of employment) not D

@Zerks700 4 ай бұрын

You got 42 right

@1StudentEconomist 4 ай бұрын

@@Zerks700Nope go check the community post I recently made 42 is A you’ll see why.

@Zerks700 4 ай бұрын

when since the answer change?? It’s always been D

@TenaEllis 4 ай бұрын

Sir is number 27 B or D? my bad sir I’m confused

@1StudentEconomist 4 ай бұрын

It’s B (non-rival) I changed the answer in the video.

@TenaEllis 4 ай бұрын

Thank youuuu!!

@1StudentEconomist 4 ай бұрын

Np. Take the answers with a grain of salt especially #39.

@TenaEllis 4 ай бұрын

Thank you again sir big up !!

@tpcinema5505 4 ай бұрын

Sir could you please post the 2023 solutions Thanks in advance

@1StudentEconomist 4 ай бұрын

It’s up now

@sagnation3171 4 ай бұрын

Thank you

@1StudentEconomist 4 ай бұрын

@TenaEllis 4 ай бұрын

Sir I just saw the other videos there was only 3 unit 1 paper 1 videos so thank you for taking the time out to help us!

@NataliaHaywood 4 ай бұрын

Thank You 🙏

@1StudentEconomist 3 ай бұрын

You’re welcome 😊

@TenaEllis 4 ай бұрын

Thank you

@1StudentEconomist 4 ай бұрын

You're welcome

@TenaEllis 4 ай бұрын

@@1StudentEconomist can you please do 2023 or 2022 🙏

@1StudentEconomist 4 ай бұрын

@@TenaEllis 2022 is up and I will do 2023 very soon.

@sagnation3171 4 ай бұрын

Can you do the 2023 paper 1 please if you have it

@1StudentEconomist 4 ай бұрын

I will do it soon. Check in the next 2-3 hours.

@Myra-mc4kx 4 ай бұрын

Sir could you also do 2016 to 2019 Please

@1StudentEconomist 4 ай бұрын

Will do.

@NataliaHaywood 4 ай бұрын

Do 2016-2019 plz

@NataliaHaywood 4 ай бұрын

Can you do 2013 and 2014 plz

@1StudentEconomist 4 ай бұрын

Will do.

@1StudentEconomist 4 ай бұрын

20:45 #25 is B (excludable and non-rival) not A 21:20 #26 is C (non-rival) not D

@1StudentEconomist 4 ай бұрын

12:12 Guys quick correction #23 is actually B (non-rival) not D 22:48 #42 is A (an increase in the level of employment) not D

@1StudentEconomist 5 ай бұрын

Hey guys! For Question 1b), please ensure that you explicitly stated that at P1, there will be a shortage as Q2>Q1 (that is, Qd>Qs). I alluded to it by saying 'too much demand' but ensure to say there is 'excess demand' or 'shortage'.