Bundle: Principles of Economics, Loose-leaf Version, 8th + LMS Integrated MindTap Economics, 2 terms (12 months) Printed Access Card
8th Edition
ISBN: 9781337607735
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 19, Problem 8QR
To determine
Competitive market and discrimination.
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Give an example of how discrimination might persistin a competitive market.
Explain the discrimination coefficient.
Explain the arguments against discrimination in your own words.
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Bundle: Principles of Economics, Loose-leaf Version, 8th + LMS Integrated MindTap Economics, 2 terms (12 months) Printed Access Card
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- Why do economists say that discrimination is inerhently inefficent and therefore will not occur in general?arrow_forwardSuppose in the long run, the employers discriminate the labor market in terms of highly skilled and ordinary skilled workers. What is the impact of such economic discrimination on the labour market? Use diagrams to support your answer.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
- 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_forwardRefer to the following diagram that shows the labor demand for a monopolistic firm hiring labor from a competitive labor market. Wage W₂ W₁ 2. A 1. B MRP с Q₁ Q₂ The allocatively efficient level of employment for this firm is given by some amount greater than Q 2. some amount between Q 1 and Q 2. S VMP Laborarrow_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
- How does monopsony affect the equilibrium wage and employment levels?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_forwardWhich of the following statements is not correct? a) Competitive markets tend to limit the impact of discrimination on wages. b) Differences in earnings of whites and blacks or men and women provide clear evidence of discrimination. c) Some differences in earnings are attributable to discrimination based on race, sex, or other factors. d) Profit-maximizing behavior can reduce discriminatory wage differentials.arrow_forward
- Explain and discuss the significance of the Efficiency Wage Theory and how it may result in discrimination in the workplace.arrow_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_forwardBriefly discuss the utilitarian, right, and justice arguments against discrimination.arrow_forward
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