際際滷

際際滷Share a Scribd company logo

Chapter03

Download as PPT, PDF
Nicole Marie
Nicole Marie

This document discusses the demand for labor by firms. It includes tables and figures showing how the marginal product and demand for labor changes as wages change. It demonstrates how an increase in the price of one input affects demand for another input if they are substitutes. It also shows how a payroll tax affects the labor market demand curve. The appendix contains additional figures graphing a firm's production function and labor demand curve, and how the optimal hiring of labor changes as wages increase due to substitution and scale effects.

1 of 14
Download to read offline
Chapter 3 The Demand for Labor Copyright 息 2009 Pearson Education, Inc.
Table 3.1: The Marginal Product of Labor in a Hypothetical Car Dealership (capital held Constant) Copyright 息 2009 Pearson Education, Inc. 3- 2
Figure 3.1: Demand for Labor in the Short Run (Real Wage) Copyright 息 2009 Pearson Education, Inc. 3- 3
Table 3.2: Hypothetical Schedule of Marginal Revenue Productivity of Labor for Store Detectives Copyright 息 2009 Pearson Education, Inc. 3- 4
Figure 3.2: Demand for Labor in the Short Run (Money Wages) Copyright 息 2009 Pearson Education, Inc. 3- 5
Figure 3.3: Effect of Increase in the Price of One Input (k) on Demand for Another Input (j), where Inputs Are Substitutes in Production Copyright 息 2009 Pearson Education, Inc. 3- 6
Figure 3.4: The Market Demand Curve and Effects of an Employer-Financed Payroll Tax Copyright 息 2009 Pearson Education, Inc. 3- 7
Figure 3.5: Payroll Tax with a Vertical Supply Curve Copyright 息 2009 Pearson Education, Inc. 3- 8
Appendix 3A Graphical Derivation of a Firms Labor Demand Curve Copyright 息 2009 Pearson Education, Inc.
Figure 3A.1: A Production Function Copyright 息 2009 Pearson Education, Inc. 3- 10
Figure 3A.2: The Declining Marginal Productivity of Labor Copyright 息 2009 Pearson Education, Inc. 3- 11
Figure 3A.3: Cost Minimization in the Production of Q* (Wage = $10 per Hour; Price of a Unit of Capital = $20) Copyright 息 2009 Pearson Education, Inc. 3- 12
Figure 3A.4: Cost Minimization in the Production of Q* (Wage = $20 per Hour; Price of a Unit of Capital = $20) Copyright 息 2009 Pearson Education, Inc. 3- 13
Figure 3A.5: The Substitution and Scale Effects of a Wage Increase Copyright 息 2009 Pearson Education, Inc. 3- 14

More Related Content

Chapter03

  • 1. Chapter 3 The Demand for Labor Copyright 息 2009 Pearson Education, Inc.
  • 2. Table 3.1: The Marginal Product of Labor in a Hypothetical Car Dealership (capital held Constant) Copyright 息 2009 Pearson Education, Inc. 3- 2
  • 3. Figure 3.1: Demand for Labor in the Short Run (Real Wage) Copyright 息 2009 Pearson Education, Inc. 3- 3
  • 4. Table 3.2: Hypothetical Schedule of Marginal Revenue Productivity of Labor for Store Detectives Copyright 息 2009 Pearson Education, Inc. 3- 4
  • 5. Figure 3.2: Demand for Labor in the Short Run (Money Wages) Copyright 息 2009 Pearson Education, Inc. 3- 5
  • 6. Figure 3.3: Effect of Increase in the Price of One Input (k) on Demand for Another Input (j), where Inputs Are Substitutes in Production Copyright 息 2009 Pearson Education, Inc. 3- 6
  • 7. Figure 3.4: The Market Demand Curve and Effects of an Employer-Financed Payroll Tax Copyright 息 2009 Pearson Education, Inc. 3- 7
  • 8. Figure 3.5: Payroll Tax with a Vertical Supply Curve Copyright 息 2009 Pearson Education, Inc. 3- 8
  • 9. Appendix 3A Graphical Derivation of a Firms Labor Demand Curve Copyright 息 2009 Pearson Education, Inc.
  • 10. Figure 3A.1: A Production Function Copyright 息 2009 Pearson Education, Inc. 3- 10
  • 11. Figure 3A.2: The Declining Marginal Productivity of Labor Copyright 息 2009 Pearson Education, Inc. 3- 11
  • 12. Figure 3A.3: Cost Minimization in the Production of Q* (Wage = $10 per Hour; Price of a Unit of Capital = $20) Copyright 息 2009 Pearson Education, Inc. 3- 12
  • 13. Figure 3A.4: Cost Minimization in the Production of Q* (Wage = $20 per Hour; Price of a Unit of Capital = $20) Copyright 息 2009 Pearson Education, Inc. 3- 13
  • 14. Figure 3A.5: The Substitution and Scale Effects of a Wage Increase Copyright 息 2009 Pearson Education, Inc. 3- 14