Economics: Private and Public Choice (MindTap Course List)
15th Edition
ISBN: 9781285453538
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Chapter 18, Problem 17CQ
To determine
Comparison of impact of natural barriers to trade with the human made barriers.
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5. Discrimination in the labor market
The following table exhibits the name, gender, height, and minimum wage 10 people are willing to accept to work as human resource specialists at a large financial firm.
Name
Gender
Height
Minimum Wage
(Inches)
(Dollars per week)
Paolo M 67 $298
Ginny F 63 $311
Lucia F 66 $332
Eric M 71 $354
Kenji M 69 $375
Sharon F 66 $397
Paolo M 70 $411
Carlos M 70 $440
Van M 64 $452
Amy F 69 $474
The lowest weekly wage that the financial firm can spend in order to hire five human resource specialists is____.
Suppose the hiring director of the financial firm prefers taller candidates because they think it will increase revenue, and so they impose a requirement that all newly hired human resource specialists must have a height of at least 67 inches. With this mandate in place, the weekly wage rate the financial firm now must pay in order to hire five human resource specialists increases by_____.
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Chapter 18 Solutions
Economics: Private and Public Choice (MindTap Course List)
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