Identify Equilibrium Values and Determine Which Are Stable and Which $$y ^ { \prime } = ( y - 1 ) ( y - 3 ) ( y - 4 )$$

question 44

Multiple Choice

Identify equilibrium values and determine which are stable and which are unstable.
- $$y ^ { \prime } = ( y - 1 ) ( y - 3 ) ( y - 4 )$$

• A) y = 5, y = 1 and y = 4 are unstable equilibria.
• B) y = 1 is a stable equilibrium value and y = 3 and y = 4 are unstable equilibria.
• C) y = 4 is a stable equilibrium value and y = 3 and y = 1 are unstable equilibria.
• D) y = 3 is a stable equilibrium value and y = 1 and y = 4 are unstable equilibria.

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Definitions:

Monopsonist

A market condition in which there is only one buyer for a particular product or service.

Labor Market

The supply and demand for labor, where employers seek workers and employees seek jobs.

Workers Hired

The number of employees that a company or organization employs or brings onboard to perform specific jobs.

Labor Demand Curve

A graphical representation showing the number of workers that businesses are willing and able to hire at different wage rates.