Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
Chapter 14, Problem 30RQ
Will a free market tend to encourage or discourage discrimination? Explain briefly.
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Chapter 14 Solutions
Principles of Economics 2e
Ch. 14 - Table 14.10 shows levels of employment (Labor),...Ch. 14 - Table 14.11 shows levels of employment (Labor),...Ch. 14 - Table 14.12 shows the quantity demanded and...Ch. 14 - Do unions typically oppose new technology out of a...Ch. 14 - Compared with the share of workers in most other...Ch. 14 - Are firms with a high percentage of union...Ch. 14 - D0 countries with a higher percentage of unionized...Ch. 14 - Table 14.13 shows information from the supply...Ch. 14 - Explain i11each of the following situations how...Ch. 14 - Does the earnings gap between the average wages of...
Ch. 14 - If immigration is reduced, what is the impact on...Ch. 14 - What determines the demand for labor for a firm...Ch. 14 - What determines the demand for labor for a firm...Ch. 14 - What is a perfectly competitive labor market?Ch. 14 - What is a labor union?Ch. 14 - Why do employers have a natural advantage in...Ch. 14 - What are some of the most important laws that...Ch. 14 - How does the presence of a labor union change...Ch. 14 - What is the long-term trend in American union...Ch. 14 - Would you expect the presence of labor unions to...Ch. 14 - What are the main causes for the recent [tends in...Ch. 14 - What is a monopsony?Ch. 14 - What is the marginal cost of labor?Ch. 14 - How does monopsony affect the equilibrium wage and...Ch. 14 - What is a bilateral monopoly?Ch. 14 - How does a bilateral monopoly affect the...Ch. 14 - Describe how the earnings gap between men and...Ch. 14 - Describe how the earnings gap between blacks and...Ch. 14 - Does a gap between the average earnings of men and...Ch. 14 - Will a free market tend to encourage or discourage...Ch. 14 - What policies, when used together with...Ch. 14 - Describe how affirmative action is applied in the...Ch. 14 - What factors can explain the relatively small...Ch. 14 - Have levels of immigration to the United States...Ch. 14 - How would you expect immigration by primarily...Ch. 14 - What is the marginal cost of labor for a firm that...Ch. 14 - Given the decline in union membership over the...Ch. 14 - Are unions and technological improvements...Ch. 14 - Will union membership continue to decline? Why or...Ch. 14 - If it is not profitable to discriminate, why does...Ch. 14 - If a company has discriminated against minorities...Ch. 14 - If the United States allows a greater quantity of...Ch. 14 - If all countries eliminated all barriers to...
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- The Labor Market: End of Chapter Problem 9. Societies tend to permit some degree of price discrimination in product markets. For example, businesses discriminate in the pricing of amusement park tickets based on age (children and senior citizens are often offered discounts) and automobile insurance based on gender (men are often charged higher premiums than women). However, we do not permit discrimination in wage rates. Why do socities allow price discrimination but reject economic discrimination? Price discrimination is a natural right, but economic discrimination is a legal right. Price discrimination increases consumer surplus, but economic discrimination increases producer surplus, and societies care more about consumers than producers Price discrimination can have both valid positive and normative justifications, but economic discrimination never has valid positive or normative justifications. Price discrimination is always necessary to promote competition among firms, but…arrow_forwardWhy do economists say that discrimination is inerhently inefficent and therefore will not occur in general?arrow_forwardConsider the graph at right for a monopsonistic labor market. The competitive wage is $750.00 per hour, and the competitive labor use is 62.50 workers. In a monopsonistic labor market, the amount of labor used will be 41.7 workers and the wage will be $ per hour (round your answer to the nearest penny). (Round all of the following answers to the nearest dollar.) In a monopsonistic labor market, consumer surplus will be $ ; the monopsonistic labor market producer surplus will be area $, and the monopsonistic labor market producer deadweight loss will be $ w, wage per hour 1400.00- 1200.00- 1000.00- 800.00- 600.00- 400.00- 200.00- Monopsonistic Labor Market 833.33 0.00+ 0.0 41.7 40.0 L, Workers per hour 80.0 ME S D Qarrow_forward
- Henry Ford is famous for utilizing the assembly line to produce cars. He also paid is workers a wage that was much higher than other firms in the market. This practice is often called minimum wages Union bargaining efficiency wages unemployment insurancearrow_forwardSuppose there are two occupations: nurses and doctors. Draw hypothetical supply and demand graphs for male and female workers to both occupations assuming that some of each prefers each job. Now, assume that medical school admissions officers assume that women are unqualified to be doctors so all women find work as nurses. Show the effects of discrimination on your graph.arrow_forwardAn example of a policy that combats discrimination is: Equal employment opportunity legislation Affirmative action legislation Equal pay legislation Pay equity or equal value legislation All of the abovearrow_forward
- Does a gap between the average earnings of men and women, or between whites and blacks, prove that employers are discriminating in the labor market? Explain briefly.arrow_forwardTrue, False, and Explain. If labor is hired in a monopsonistic market, a minimum wage will always guarantee employment will increase.arrow_forwardDraw a graph of a market where a single league (buyer) employs baseball players. Show that the Monopsony wage will lie below the competitive wage.arrow_forward
- Suppose there are male and female workers in a market. The market wage rate for female workers is $15 per hour and the market wage rate for males is $20. What is the ratio of female to male wages in this market?arrow_forwardExplain how institutional discrimination can happen in a contemporary society. Please give one contemporary example.arrow_forwardEmpirical studies on the effects of minimum wage increases in contiguous states: Find negative effects on employment for both teenagers and restaurant workers Find no effect on employment for teenagers, but negative effects on restaurant workers Find negative effects on employment for teenagers, but no effect for restaurant workers Find no effects on employment for either teenagers or restaurant workersarrow_forward
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