60,00050,00040,00030,00020,00010,000Figure 2. Bay Area Restaurant EmploymentPaid sickHealth spendingrequirementleaveMinimum wageSF increased theminimum wagefrom $6.75 to$8.50 in 2004.2005 2006 2007 2008 2009 2010San FranciscoSurrounding counties(weighted average)02001 2002 2003 2004Source: Reich, Jocobs and Dietz (2014)Notes: Shaded areas indicate recessions. Surrounding counties include San Mateo, Santa Clara, and Alameda Counties.San Francisco increased the city minimum wage from $6.75 to $8.50, or [Select]Consider the graph above. On the vertical axis is the total number of jobs in restaurants in the Bay Area. Based on this data, an increase in theminimum wage[Select]employment in restaurants in the Bay Area.2011in 2004.

San Francisco increased the city minimum wage from $6.75 and to $8.50, or ____ , in 2004. Consider…

San Francisco increased the city minimum wage from $6.75 to $8.50, or in 2004 Consider the graph above. On the vertical axis is the total number of jobs in restaurants in the Bay Area. Based on this data, an increase in the minimum wage [Select] employment in restaurants in the Bay Area. Select]

San Francisco increased the city minimum wage from $6.75 to $8.50, or in 2004 Consider the graph above. On the vertical axis is the total number of jobs in restaurants in the Bay Area. Based on this data, an increase in the minimum wage [Select] employment in restaurants in the Bay Area. Select]

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter16: Labor Markets

Section: Chapter Questions

Problem 16.3P

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16 The weekly salary of sales staff of a department store are shown below. "f" is the frequency or the number of staff members earning the stated salary (x). Salary Frequency x f $590 7 680 6 940 29 980 10 1540 2 1880 1 The mean weekly salary is _______. a $868 b $913 c $961 d $1,012
. Among the adult population of a certain town 50% are male. 60% are wage-earner and 50% are 45 years age or over, 10% ofmales are not wage earmers and 40% of males are under 45. Make the best possible inference about the limits within which the percentage of persons (male or female) of 45 years or over are wage earner.s
Use the graph to answer the following question. Median Annual Earnings of Full-Time, Year-Round Workers Ages 25-34, by Educational Attainment: 2019 Delars S0.000 0.000 S70.000 70.000 S50,700 60.000 $55,700 S0.000 $44700 S31,700 $40.000 40,000 S35.000 $29,300 30.000 20.000 10.000 Some college, no degree Assodale's degree Bachelor degree Masters or higher degree Al educational Less than High school completion Total ettainment levels high school completion Bachelor's or higher degree Educational atainmest Which of the following statements is supported by the information in the graph? O A. High school graduates earn an average income. B. Investing in education leads to a higher standard of living. O. C. Education has little impact on the earnings of workers. O D. The costs of post-secondary education are greater than the benefits. 7 8 9. 4. W e m b n alt
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Ananyize this graph in 1-2 paragraphs!
5. Michael, Inc., a manufacturer of electric guitars, is a small firm with 50 employees. The table below shows the hourly wage distribution of the employees. Hourly Wages (In Dollars) Number of Employees 10 - 13 8 14 - 17 12 18 - 21 20 22 - 25 10 a. How many employees receive hourly wages of at least $18? b. What percentage of the employees have hourly wages of at least $18? c. What percentage of the employees have hourly wages of less than $14?
Otherthingsbeingconstant,howwillthefollowinginfluence the hourly earnings of employees? Explain your answer. The employee must work the midnight to 8:00 a.m. shift. The job involves split shifts (work three hours, off two hours, work three additional hours, and so on). Theemployerprovideslow-costchildcareservicesonthe premises. The job is widely viewed as prestigious. The job requires employees to move often from city to city. The job requires substantial amounts of out-of-town travel.
Explain how the wage can adjust to balance thesupply and demand for labor while simultaneouslyequaling the value of the marginal product oflabor.
You are HR di, ector for a growing law firm in Tampa, Florida, which cu."ently has need of writing 30 legal briefs every hour. Each of your company's attorneys can write on average five briefs per hour. You are consid ring hiring four paralegals to shoulder the load; each pa alegal is a bit slower than the attorneys and can write on average only 2.5 briefs per hour. You scan the current wages in the Tampa area and notice that the attorneys in your company earn the local occupational median wage of $41.64 per hour, but that the prospective four paralegals will likely want to get paid their local occupational median wage of $23.66 per hour. a. Would /our company save money in the writing of the 30 legal briefs by hiring the four paralegals and firing some attorneys? b. The local Tampa Paralegal Union has observed that the Bureau of Labor Statistics projects that employment of paralegals over the next decade will rise considerably faster than the employment of lawyers…
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4.
A company operates in a competitive market, selling each unit of output for a price of $20 and paying the market wage of $270 per day for each worker it hires. In the following table, complete the column for the value of the marginal product of labor (VMPL) at each quantity of workers. Marginal Product of Value of the Marginal Product Labor Labor Output (Units of output) of Labor (Number of workers) (Units of output) (Dollars) 20 1 20 19 2 39 18 3 57 15 72 12 5 84 On the following graph, use the blue points (circle symbol) to plot the firm's labor demand curve. Then, use the orange line (square symbols) to show the wage rate. (Note: If you cannot place the wage rate at the level you want, move the two end points individually.) Hint: Remember to plot each point halfway between the two integers. For example, when the number of workers increases from 0 to 1, the value of the marginal product for the first worker should be plotted with a horizontal coordinate of 0.5, the value halfway…