Chapter 8 Compensating Wage Differentials and Labor Markets.
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Transcript of Chapter 8 Compensating Wage Differentials and Labor Markets.
![Page 1: Chapter 8 Compensating Wage Differentials and Labor Markets.](https://reader036.fdocuments.us/reader036/viewer/2022081715/55147266550346b0158b5101/html5/thumbnails/1.jpg)
Chapter 8
Compensating Wage Differentials and Labor Markets
![Page 2: Chapter 8 Compensating Wage Differentials and Labor Markets.](https://reader036.fdocuments.us/reader036/viewer/2022081715/55147266550346b0158b5101/html5/thumbnails/2.jpg)
Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-2
FIGURE 8.1 A Family of Indifference Curves between Wages and Risk of Injury
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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
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Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-4
FIGURE 8.3 A Family of Isoprofit Curves for an Employer
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Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-5
FIGURE 8.4 The Zero-Profit Curves of Two Firms
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Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-6
FIGURE 8.5 Matching Employers and Employees
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Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-7
FIGURE 8.6 An Offer Curve
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Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-8
FIGURE 8.7 The Effects of Government Regulation in a Perfectly Functioning Labor Market
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Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-9
FIGURE 8.8 A Worker Accepting Unknown Risk
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Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-10
FIGURE 8.9 An Indifference Curve between Wages and Employee Benefits
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Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-11
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
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Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-12
FIGURE 8.11 Alternative Isoprofit Curves Showing the Wage/Benefit Offers a Firm Might Be Willing to Make to Its Employees: Nonunitary Trade-Offs
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Copyright © 2006 Pearson Addison-Wesley. All rights reserved. 8-13
FIGURE 8.12 Market Determination of the Mix of Wages and Benefits
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FIGURE 8A.1 Choice of Hours of Work
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FIGURE 8A.2 The Choice between H' Hours with Certainty and H' Hours on Average