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 Raphael M Hilary F Maria F Edison Kevin Simone Rajiv Charles Yakov Ana M M F M M M F Height (Inches) 65 66 67 72 70 64 69 69 65 70 Minimum Wage (Dollars per week) $291 $314 $336 $359 $372 $394 $417 $440 $452 $475 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 68 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 $

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 Raphael M Hilary F Maria F Edison Kevin Simone Rajiv Charles Yakov Ana M M F M M M F Height (Inches) 65 66 67 72 70 64 69 69 65 70 Minimum Wage (Dollars per week) $291 $314 $336 $359 $372 $394 $417 $440 $452 $475 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 68 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 $

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter14: Labor Markets And Income

Section: Chapter Questions

Problem 1SCQ: Table 14.10 shows levels of employment (Labor), the marginal product at each of those levels, and...

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Similar questions

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?
Will a free market tend to encourage or discourage discrimination? Explain briefly.
Name some factors that can cause a shift in the demand curve in labor markets.
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.
What is die price commonly called in the labor market?
Table 14.12 shows the quantity demanded and supplied in the labor market for driving city buses in the town of Unionville, where all the bus drivers belong to a union. What would the equilibrium wage and quantity be in this market if no union existed? Assume that the union has enough negotiating power to raise the wage to 4 per hour higher than it would otherwise be. Is there now excess demand or excess supply of labor?
Does the earnings gap between the average wages of females and the average wages of males prove labor market discrimination? Why or why not?
Table 14.10 shows levels of employment (Labor), the marginal product at each of those levels, and the price at which the film can sell output in the perfectly competitive market where it operates. What is the value of the marginal product at each level of labor? If the firm operates in a perfectly competitive labor market where the going market wage is 12, what is the films profit maximizing level of employment?
What is the marginal cost of labor for a firm that operates in a competitive labor market? How does this compare with the MCL for a monopsony?
5. Discrimination in the labor market The following table lists the name, gender, height, and minimum wage 10 people are willing to accept to work as sales clerks at a high-end clothing store. Name Gender Eileen F Valerie Caroline Shen Antonio Frances Dmitri Nick Jake Latasha F F M M F M M M F Height (Inches) 66 66 68 70 70 66 71 70 63 68 Minimum Wage (Dollars per week) $301 $325 $349 $362 $386 $410 $423 $447 $460 $484 The lowest wage that the clothing store can pay to hire five sales clerks is $ per week. Suppose the head of the clothing store has a preference for tall employees because he thinks it will increase revenue, and thus, he imposes the restriction that all sales clerks hired must be at least 67 inches in height. Under this new regulation, the wage rate the clothing store must pay to attract five sales clerks rises by $ per week.
The following table lists the name, gender, height, and minimum wage 10 people are willing to accept to work as personal assistants at a prestigious law firm. Height Minimum Wage Name Gender (Inches) (Dollars per week) Neha F 66 $309 Simone F 64 $321 Ana 68 $344 Rajiv M 70 $367 Yakov 70 $390 Dina 66 $402 Charles M 71 $425 Lorenzo M 70 $448 Gilberto M 63 $460 Juanita F 68 $483 The lowest wage that the law firm can pay to hire five personal assistants is $ per week. Suppose the head of the law firm has a preference for tall employees because he thinks it will increase revenue, and thus, he imposes the restriction that all personal assistants hired must be at least 67 inches in height. Under this new regulation, the wage rate the law firm must pay to attract five personal assistants rises by S per week.
5. Discrimination in the labor market The following table lists the name, gender, height, and minimum wage 10 people are willing to accept to work as personal assistants at a prestigious law firm. Height Minimum Wage Name Gender (Inches) (Dollars per week) Paolo 67 $308 Latasha F 63 $321 Rosa 66 $342 Jake M 71 $364 Nick M 69 $385 Alyssa F 66 $407 Tim M 70 $421 Edison M 70 $450 Brian M 64 $462 Crystal 69 $484 The lowest wage that the law firm can pay to hire five personal assistants is per week. Suppose the head of the law firm has a preference for tall employees because he thinks it will increase revenue, and thus, he imposes the restriction that all personal assistants hired must be at least 67 inches in height. Under this new regulation, the wage rate the law firm must pay to attract five personal assistants rises by $ |per week.