EP ECONOMICS,AP EDITION-CONNECT ACCESS
20th Edition
ISBN: 9780021403455
Author: McConnell
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 21, Problem 6RQ
To determine
The discrimination coefficient and the demand curve.
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Brenda owns a construction company that employs bricklayers and other skilled tradesmen. Her firm’s MRP for bricklayers is $22.25 per hour for each of the first seven bricklayers, $18.50 for an eighth bricklayer, and $17.75 for a ninth bricklayer. Given that she is a price taker when hiring bricklayers, how many bricklayers will she hire if the market equilibrium wage for bricklayers is $18.00 per hour? a. Zero. b. Seven. c. Eight. d. Nine. e. More information is required to answer this question
Suppose that the wage rate is $13 per hour and the price of the product is $2. Values for output and labor are in units per hour.
b.
L
0.
24
44
60
72
80
4
84
Find the profit-maximizing quantity of labor. (Assume the firm can hire up to 6 workers.)
The profit-maximizing quantity of labor is worker(s). (Enter a numeric response using an integer.)
Suppose that the price of the product remains $2 but that the wage rate increases to $36. Find the new profit maximizing level of L
The profit-maximizing quantity of labor is
worker(s).
Suppose that the price of the product decreases to $1 and the wage remains at $13 per hour. Find the new profit-maximizing L.
Suppose that the wage rate is $47 per hour and the price of the product is $2. Values for output and labor are in units per hour.
b.
L
48
88
2.
120
144
4
160
168
Find the profit-maximizing quantity of labor. (Assume the fim can hire up to 6 workers.).
The profit-maximizing quantity of labor is worker(s). (Enter a numeric response using an integer.)
Suppose that the price of the product remains $2 but that the wage rate increases to $77. Find the new profit maximizing level of L.
The profit-maximizing quantity of labor isworker(s).
Suppose that the price of the product decreases to $1 and the wage remains at $47 per hour. Find the new profit-maximizing L.
The profit-maximizing quantity of labor is
worker(s).
Chapter 21 Solutions
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- Most economists believe that only part of the gap between the wages of white males and the wages of other groups is due to discrimination. Economists believe that some of the gap is explained by which of the following factors? O A. differing preferences for types of jobs B. differences in education C. differences in experience O D. All of the above. Which of the following is part of the economic analysis of discrimination? O A. Employers who discriminate pay an economic penalty because very few workers are willing to work for an employer who discriminates. O B. Employers who discriminate receive an economic reward from retaining only the most productive workers. C. Market competition has entirely eliminated economic discrimination in the United States. D. Employers who discriminate pay an economic penalty imposed by market competition.arrow_forwardFigure 3.2 Si 15 S2 10 5. D2 Di 20 30 40 Quantity of Labor In Figure 3.2, assume that we have labor market demand and supply curves of D2 and S1, respectively. What is the equilibrium wage and employment level? O $15; 30 workers O 5; 30 workers $5; 20 workers O $10; 40 workers Wage Rate ($ per day)arrow_forwardMary's employer is considering her for a firm-specific training program that will cost $4 per hour. Her current marginal revenue product is $20 per hour and will rise to $25 upon completion of the program. Of the following, Mary's training and posttraining wage, respectively, will most likely be O $20 and $25 O $16 and $25 O $20 and $ $21 O $16 and $21arrow_forward
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