Wage Rate 0 a Single Firm $5 W S 5 Employment d Wage Rate 0 $5 500 Market D Employment S

What are some of the most important laws that protect employee right?

What is the formula for the wage elasticity of labor supply?

Using two demand and supply diagrams, one for the low-wage labor market and one for the high-wage labor market, explain how information technology can increase income inequality if it is a complement to high-income workers like salespeople and managers, but a substitute for low-come workers like file clerks and telephone receptionists.

Suppose each family in the United States earned an equal money income. What would be the effect?

Name some factors that can cause a shift in the demand curve in labor markets.

Who is included in the top income quintile?

Continuing from Exercise 7.1, the films factory sits on land owned by the firm that it could rent for 30,000 per year. What was the films economic profit last year?

Table 14.11 shows levels of employment (Labor), the marginal product at each of those levels, and a monopolys marginal revenue. What is the monopolys marginal revenue product at each level of employment? If the monopoly operates in a perfectly competitive labor market where the going market wage is 20, what is the films profit maximizing level of employment?

Does the earnings gap between the average wages of females and the average wages of males prove labor market discrimination? Why or why not?