Is the United States labor supply more elastic or more inelastic

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This is a paper that discusses is the United States labor supply more elastic or more inelastic. The paper also considers market for white athletic socks.

Is the United States labor supply more elastic or more inelastic

1.      Firstly, consider the market for white athletic socks, which consumers consider to be identical products. If the demand is very elastic and the supply is very inelastic, how would the burden of a new tax on athletic socks be shared between consumers and producers? What if the situation were reversed – a very inelastic demand and a very elastic supply? How would that change the way consumers and also producers share the burden of the new tax? Justify your answer. (135 word+ and 1 APA reference)

2.      Secondly, does the United States’ labor supply tend to be more elastic or more inelastic? Explain the competing theories discussed in our textbook. Which seems more convincing to you? Explain your answer.

3.      Thirdly, evaluate various supply chain strategy considerations for managers moving products or services to the consumer.

4.      Fourthly, discuss the advantages of using work sampling to understand how employees allocate their time among work activities.

Is the United States labor supply more elastic or more inelastic

5.      Then, discuss the implications of outsourcing in supply chain strategy and give an example of how this has improved a particular business’s economic position. Also, what are some ethical implications of outsourcing?

6.      Also, discuss the common challenges in effective and efficient supply chain strategy and management.

7.      Lastly, suppose that a small family farm sold its output for $100,000 in a given year. The family spent $25,000 on fuel, $40,000 on seed, fertilizer, and pesticides, and $25,000 on equipment, including maintenance. The family members could have earned $20,000 working at other occupations. Also, what is the family’s accounting cost? What is the family’s economic cost? Could the family’s economic cost ever exceed its accounting cost? Why or why not?

8.      News reports from the western United States occasionally report incidents of cattle ranchers slaughtering many newborn calves and burying them in mass graves rather than transporting them to markets. Assuming that this is rational behavior by profit-maximizing “firms,” explain what economic factors may influence such behavior. Justify your answer.