Assume there are only two jobs and that both jobs use the skill set possessed by both Preferred (P) workers and Non-Preferred (NP) workers. Job 1 has only P workers; job 2 has Pand NP workers. Based on the Employee (Co-Worker) Taste Discrimination Model, if job 1 pays $18/hour and job 2 pays $24/hour, ceteris paribus: job 2 will employ more NP workers than P workers. a P worker with a dew 0.20 will choose job 1. O a P worker with a dew" 0.20 will choose job 2. O a P worker with a dew 0.20 will be indifferent between job 1 and job 2.
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- Becky currently earns anominal wage of $12.00 per hour; in other words, the amount of her paycheck each week is $12.00 per hour times the number of hours she works. Suppose the price of milk is $2.40 per gallon; in this case, Becky'sreal wage, in terms of the amount of milk she can buy with her paycheck, is gallons of milk per hour. When workers and firms negotiate compensation packages, they have expectations about the price level (and changes in the price level) and agree on a wage with those expectations in mind. If the price level turns out to be higher than expected, a worker's wage is than both the worker and employer expected when they agreed to the wage. Becky and her employer both expected inflation to be 3% between 2012 and 2013, so they agreed, in a two-year contract, that she would earn $12.00 per hour in 2012 and $12.36 per hour in 2013. However, suppose inflation between 2012 and 2013 actually turned out to be 6%, not 3%. For example,…Mary'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 $21Becker argued that discrimination is economically detrimental to all parties and will be eliminated by the market. discrimination is only economically detrimental to the employee but will never be completely eliminated by the market. discrimination is economically detrimental to all parties but will never be completely eliminated by the market. O discrimination is only economically detrimental to the employee and will be eliminated by the market.
- Since 1960, the earnings gap between men and women in the U.S. labor market has O steadily risen. O been completely eliminated. O continued to narrow. O increased throughout the 1970s.Income $560 $320 B 60 40 0 Work T Suppose this worker's union negotiates an increase in the straight-time wage from $8 to $9.33 per hour with no bonus for overtime. This plan would allow earnings of $560 at 60 hours per week. Assuming this worker can freely choose the number of hours worked, he will choose to work more than 60 hours per week. 60 hours per week. more than 60 hours per week if the income effect dominates; less otherwise. fewer than 60 hours per week. 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.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
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- A restaurant hires cooks and walters. Cooks earn $10 an hour, walters earn $5 an hour. The manager, who wants to maximize the number of meals served given a fixed payroll of $45 per hour, expects the following from cooks and walters: Number of employees 1 2 3 4 5 Total number of meals served Waiters 120 230 Multiple Choice Cooks 200 380 540 660 740 Given the Information in the table, the manager should hire 2 cooks and 4 waiters. 2 cooks and 5 waiters. 3 cooks and 2 waiters. 3 cooks and 4 waiters. 310 360 390 None of the choices is correct.According to the Wall Street Journal, Mitsubishi Motors recently announced a major restructuringplan in an attempt to reverse declining global sales. Suppose that as part of the restructuring planMitsubishi conducts an analysis of how labour and capital are used in its production process. Priorto restructuring Mitsubishi’s marginal rate of technical substitution is 0.15 ( in absolute value). Tohire workers. Suppose that Mitsubishi must pay the competitive hourly wage of US$ 15. In thestudy of production process and markets where capital is procured, suppose that Mitsubishidetermine that its marginal productivity of capital is 0.5 small cars per hour at its new targetedlevel of output and that capital is procured in a highly competitive market. The same studyindicates that the average selling price of Mitsubishi’s smallest car is US$ 9500. Determine therate at which Mitsubishi can rent capital and marginal productivity of labour at its new targetedlevel of output. To minimize costs…The figure depicts the efficiency wage equilibrium of a worker and a firm. According to this figure: Isocosts Worker's best response curve 0.7---- 0.5+ -- 4 6 10 12 Hourly wage, $ At B, the MRS is higher than the MRT. O The firm is able to increase its profits from those attained at A by inducing the worker to exert higher effort in return for a higher wage. O The firm would maximise its profits by paying an hourly wage that is $6 above the worker's reservation wage. O At C, the marginal rate of substitution (MRS) between higher wage cost and higher effort exceeds the marginal rate of transformation (MRT). Effort per hour 近