The labor demand and supply data in the following table relate to a single occupation. Use them to answer the questions that follow. Base your answers on the taste-for-discrimination model. Quantity of Hispanic Labor Demanded, Thousands 24 30 35 42 48 Wage rate (dollars) a. Plot the labor demand and supply curves for Hispanic workers in this occupation. Instructions: (1) In the diagram below, use the tools provided 'D' and 'S' to draw the labor demand and labor supply curves. You should plot five price-quantity combinations for each curve. (2) Use the tool provided 'A' to identify the equilibrium wage rate and quantity of labor. 20 16 12 8 4 0 8 Hispanic Wage Rate $ 16 14 12 10 8 Quantity of Hispanic Labor Supplied, Thousands 52 44 35 28 20 workers 16 24 32 40 48 56 64 Hispanic workers (thousands) What is the equilibrium quantity of Hispanic employment? Tools D -9 A O nstructions: In parts b, e, and f, enter your answers as a whole number. In part c, round your answer to 2 decimal places. D. What is the equilibrium Hispanic wage rate? S - Suppose the white wage rate in this occupation is $16. What is the Hispanic-to-white wage ratio?
The labor demand and supply data in the following table relate to a single occupation. Use them to answer the questions that follow. Base your answers on the taste-for-discrimination model. Quantity of Hispanic Labor Demanded, Thousands 24 30 35 42 48 Wage rate (dollars) a. Plot the labor demand and supply curves for Hispanic workers in this occupation. Instructions: (1) In the diagram below, use the tools provided 'D' and 'S' to draw the labor demand and labor supply curves. You should plot five price-quantity combinations for each curve. (2) Use the tool provided 'A' to identify the equilibrium wage rate and quantity of labor. 20 16 12 8 4 0 8 Hispanic Wage Rate $ 16 14 12 10 8 Quantity of Hispanic Labor Supplied, Thousands 52 44 35 28 20 workers 16 24 32 40 48 56 64 Hispanic workers (thousands) What is the equilibrium quantity of Hispanic employment? Tools D -9 A O nstructions: In parts b, e, and f, enter your answers as a whole number. In part c, round your answer to 2 decimal places. D. What is the equilibrium Hispanic wage rate? S - Suppose the white wage rate in this occupation is $16. What is the Hispanic-to-white wage ratio?
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter19: Earnings And Discrimination
Section: Chapter Questions
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