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Chapter 8 Compensating Wage Differentials and Labor Markets.

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Presentation on theme: "Chapter 8 Compensating Wage Differentials and Labor Markets."— Presentation transcript:

1 Chapter 8 Compensating Wage Differentials and Labor Markets

2 Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-2 FIGURE 8.1 A Family of Indifference Curves between Wages and Risk of Injury

3 Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-3 FIGURE 8.2 Representative Indifference Curves for Two Workers Who Differ in Their Aversion to Risk of Injury

4 Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-4 FIGURE 8.3 A Family of Isoprofit Curves for an Employer

5 Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-5 FIGURE 8.4 The Zero-Profit Curves of Two Firms

6 Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-6 FIGURE 8.5 Matching Employers and Employees

7 Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-7 FIGURE 8.6 An Offer Curve

8 Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-8 FIGURE 8.7 The Effects of Government Regulation in a Perfectly Functioning Labor Market

9 Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-9 FIGURE 8.8 A Worker Accepting Unknown Risk

10 Copyright © 2006 Pearson Addison-Wesley. All rights reserved FIGURE 8.9 An Indifference Curve between Wages and Employee Benefits

11 Copyright © 2006 Pearson Addison-Wesley. All rights reserved FIGURE 8.10 An Isoprofit Curve Showing the Wage/Benefit Offers a Firm Might Be Willing to Make to Its Employees: A Unitary Trade-Off

12 Copyright © 2006 Pearson Addison-Wesley. All rights reserved FIGURE 8.11 Alternative Isoprofit Curves Showing the Wage/Benefit Offers a Firm Might Be Willing to Make to Its Employees: Nonunitary Trade-Offs

13 Copyright © 2006 Pearson Addison-Wesley. All rights reserved FIGURE 8.12 Market Determination of the Mix of Wages and Benefits

14 Copyright © 2006 Pearson Addison-Wesley. All rights reserved FIGURE 8A.1 Choice of Hours of Work

15 Copyright © 2006 Pearson Addison-Wesley. All rights reserved FIGURE 8A.2 The Choice between H' Hours with Certainty and H' Hours on Average


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