Labor Economics
Labor Economics
8th Edition
ISBN: 9781260484434
Author: George Borjas
Publisher: Mcgraw-hill Higher Education (us)
Question
Book Icon
Chapter 5, Problem 4P
To determine

Determine the wage in dirty jobs and the amount of compensating wage differential.

Blurred answer
Students have asked these similar questions
Two fish farmers are deciding how many fish to raise in a public access lake. The problem is that this lake is quite small and the oxygen and food needed for aquaculture is They quickly deplete if there are excess fish, thus reducing production. Let ya and yb the number of fish that each farmer raises. The unit value of each farmed fish is: V(ya, yb) = 200 − (ya + yb)2   (b) Find the private equilibrium of fish farming. Get the benefits of each aquaculturist and the added benefits.
Suppose that a surfboard designer owns a building and is renting part of the building's space to a doctor. Further suppose that because the surfboard designer is the owner, he has the right to make noise during the day while he sands the boards. While the doctor cannot insist on a quiet environment, the doctor could move to a quieter building. However, rent in the next best building is $400/month more than rent in the noisy building. The surfboard designer can adopt a new technology that eliminates the noise for $325/month. Given this situation, can the doctor find a private solution with the surfboard designer that will make both better off? What is the minimum and maximum payment the doctor would make to the surfboard designer to get the doctor to install the noise-reducing equipment? NOTE: Round your answers to the nearest dollar. Minimum: $ Maximum: $
There is a road between the suburbs and downtown. The road is congested at rush hour. If 172 people use the road at rush hour, the trip takes 38 minutes. If one additional person enters the road, everyone has to slow down and the trip now takes 39 minutes. People value their time at $6 per hour (that is, 50.10 per minute). For simplicity, ignore all of the costs of using the road other than the cost of time. The total social cost of 172 people using the road at rush hour is S1 (Round your response to the nearest dollar.) The marginal social cost of onea additional person is S (Round your response to the nearest dollar.) The efficient toll on this one additional person (that is, the cost he imposes on other drivers) is S (Round your response to the nearest dollar.) Suppose at noon 50 people are using the road. The road is not congested and the trip takes just 20 minutes. If one additional driver enters the road, no one has to slow down and the trip continues to take 20 minutes. The toll…
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning
Text book image
Macroeconomics
Economics
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Cengage Learning
Text book image
Microeconomics
Economics
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Cengage Learning
Text book image
Microeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Text book image
Macroeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Text book image
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning