MyLab Economics with Pearson eText -- Access Card -- for Microeconomics
MyLab Economics with Pearson eText -- Access Card -- for Microeconomics
6th Edition
ISBN: 9780134125886
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
Question
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Chapter 17, Problem 17.1.3RQ
To determine

Downward sloping demand curve for labor.

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Suppose the Occupational Safety and Health Administration were to mandate that all punch presses be fitted with a very expensive device to prevent injuries to workers. This device does not improve the efficiency with which punch presses operate. What does this requirement do to the demand curve for labor? Explain
why does a simple market demand for labor curve and a simple market supply of labor curve seem to form the letter 'X' .
Bob White argues that if his wage went up from $10/hour to $20/hour he would still be able to pay rent and feed his family even if he worked half as many hours. So, if his wage increased he would want to work proportionally less. What is strange about Bob White's labor supply curve? it is very elastic it is very inelastic it slopes down it is vertical

Chapter 17 Solutions

MyLab Economics with Pearson eText -- Access Card -- for Microeconomics

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