Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. 5. Racial discrimination in the labor marketThe following graphs depict the labor market in a hypothetical economy. One graph assumes employers do not discriminate, and the other assumesemployers practice racial discrimination.Use the graphs to answer the following questions.Graph IWAGE (Dollars per day)222 288 289 22001801001401201006040200Market Demand036 9 12 15 18 21 24 27 30LABOR (Hundreds of workers per day)Market SupplyNo oneWhite workersGraph IIGraph I assumes that employers discriminate against which workers?WAGE (Dollars per day)8 8 8 8 8 8 8 8 8 820010014012010000Nonwhite SupplyNonwhite DemandWith no labor market discrimination, the equilibrium wage rate for all workers is 3Under discrimination, the equilibrium wage rate for white workers isnonwhite workers of Sper day. White workers earnworkers earn than they would in the labor market with no discrimination.White Supply3 6 9 12 15 18 21 24 27 30LABOR (Hundreds of workers per day)per day.1IWhite Demandper day, which isthan the equilibrium wage rate forthan they would in the labor market with no discrimination, and nonwhite

In a labor market without discrimination, individuals/workers are hired based solely on their…

5. Racial discrimination in the labor market The following graphs depict the labor market in a hypothetical economy. One graph assumes employers do not discriminate, and the other assumes employers practice racial discrimination. Use the graphs to answer the following questions. Graph I WAGE (Dollars per day) 200 8 8 8 8 180 160 140 8 8 8 8 8 8 100 20+ Market Demand 0360 12 15 18 21 24 27 30 LABOR (Hundreds of workers per day) Market Supply No one Graph I assumes that employers discriminate against which workers? O White workers Graph II WAGE (Dollars per day) 8 8 8 8 8 8 8 8 8 8 150 100 140 120 100 20 0 Nonwhite Supply with no labor market discrimination, the equilibrium wage rate for all workers is 3 Under discrimination, the equilibrium wage rate for white workers is S nonwhite workers of S per day. White workers earn workers earn than they would in the labor market with no discrimination Nonwhite Demand White Supply 3 60 12 15 18 21 24 27 30 LABOR (Hundreds of workers per day) per day. White Demand per day, which is than the equilibrium wage rate for than they would in the labor market with no discrimination, and nonwhite

5. Racial discrimination in the labor market The following graphs depict the labor market in a hypothetical economy. One graph assumes employers do not discriminate, and the other assumes employers practice racial discrimination. Use the graphs to answer the following questions. Graph I WAGE (Dollars per day) 200 8 8 8 8 180 160 140 8 8 8 8 8 8 100 20+ Market Demand 0360 12 15 18 21 24 27 30 LABOR (Hundreds of workers per day) Market Supply No one Graph I assumes that employers discriminate against which workers? O White workers Graph II WAGE (Dollars per day) 8 8 8 8 8 8 8 8 8 8 150 100 140 120 100 20 0 Nonwhite Supply with no labor market discrimination, the equilibrium wage rate for all workers is 3 Under discrimination, the equilibrium wage rate for white workers is S nonwhite workers of S per day. White workers earn workers earn than they would in the labor market with no discrimination Nonwhite Demand White Supply 3 60 12 15 18 21 24 27 30 LABOR (Hundreds of workers per day) per day. White Demand per day, which is than the equilibrium wage rate for than they would in the labor market with no discrimination, and nonwhite

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 9SCQ: Explain i11each of the following situations how market forces might give a business an incentive to...

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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?
Why are the factors that shift the demand for a product different from the factors that shift the demand for labor? Why are the factors that shift the supply of a product different from those that shift the supply of labor?
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?
What is die price commonly called in the labor market?
Explain i11each of the following situations how market forces might give a business an incentive to act in a less discriminatory fashion. A local flower delivery business run by a bigoted white owner notices that many of its local customers are black. An assembly line has traditionally only hired men, but it is having a hard time hiring sufficiently qualified workers. A biased owner of a firm that provides home health care services would like to pay lower wages to Hispanic workers than to other employees.
Other than the demand for labor, what would be another example of a 'derived demand?
Name some factors that can cause- a shift in the supply curve in labor markets.
Will a free market tend to encourage or discourage discrimination? Explain briefly.
What is the formula for the wage elasticity of labor supply?
How is the poverty rate calculated?
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?
5. Should all professors be paid the same? The following graphs show the supply of and demand for assistant professors in historyand in biologyfor a hypothetical university. Use the graphs to help you answer the following questions. SALARY (Thousands of dollars) 120 108 96 84 24 12 0 0 Market for Assistant History Professors Demand University Wage (Dollars) 72,000 108,000 Supply 5 10 15 20 25 30 35 40 45 QUANTITY (Assistant history professors) 50 (?) Quantity Demanded SALARY (Thousands of dollars) 180 Demand 162 Assistant History Professors Quantity Supplied 144 126 The equilibrium wage of an assistant professor in history is S the other hand, the equilibrium'wage of an assistant professor in biology is 5 professors in biology. 106 18 0 Market for Assistant Biology Professors Suppose the university sets the same wage for all assistant professors in each department. Supply 0 14 8 12 16 20 24 28 32 36 QUANTITY (Assistant biology professors) and the equilibrium quantity is Shortage or…