+1-415-670-9189
info@expertsmind.com
The absence of discrimination-equilibrium wage
Course:- Business Economics
Reference No.:- EM131090348




Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Business Economics

Kyle and Jeremiah own firms that produce winter mittens. Suppose the firm’s production function is given by Q =10 or L is the number of workers hired by the firm. It can be shown that the marginal product of labor is then MPL = Assume that in the absence of discrimination, the equilibrium wage is $10 per hour. The price of each unit of output is $20. Profits are equal to: Π = PQ – WL There are two groups of workers, short and tall people, and these groups are equally productive. Kyle’s firm discriminates against short people by a factor of $10.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Business Economics) Materials
Martin received $115,000 in salary from Red Steel Corporation, where he is a construction engineer. Withholding for Federal income tax was $10,750. The amounts withheld for FI
Suppose that three groceries sell Bubba's Gourmet Red Beans and Rice. Bullseye market is able to acquire, stock, and market them for $2.00 per package. OKMart can acquire, sto
Ed and his wife Kathie own all of the stock of Crispin, Inc. Kathie is the president and Ed is the vice president. Kathie and Ed are paid salaries of $500,000 and $350,000, re
Two key sources of economic growth have been due to increases in resources and increases in productivity. What factors will contribute to falling U.S. GDP growth rates into th
1. Cyber-attacks could affect our business. 2. Disruptions in our computer systems could adversely impact our business. 3. We could be liable if third party equipment recomme
assume the tax multiplier is estimated to be 1.5 and the aggregate supply curve has its usual upward scale. suppose the government lowers taxes by 150 million. aggregate deman
1. Define perfect competition. Explain how this theory has or does not have (in your opinion) relevance in economic theory. 2. Briefly explain how Robinson and Marx defined la
Assume that output (Y) is currently at the full employment level. Explain the short-run and long-run effects of the following policy measures. Support your answer with an IS-L