tailieunhanh - Chương 12 phân tích của các thị trường yếu tố: lao động

Tham khảo tài liệu 'chương 12 phân tích của các thị trường yếu tố: lao động', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Chapter 12 The analysis of factor markets: labour David Begg, Stanley Fischer and Rudiger Dornbusch, Economics, 6th Edition, McGraw-Hill, 2000 Power Point presentation by Peter Smith Some important questions Why does a top professional footballer earn so much more than a professor? Why does an unskilled worker in the EU earn more than an unskilled worker in India? Why do market economies not manage to provide jobs for all their citizens who want to work? Why are different methods of production used in different countries? 12. See the introduction to Chapter 12 in the main text. The demand for labour Derived demand: the demand for a factor of production is derived from the demand for the output produced by that factor. Equalizing wage differential the monetary compensation for the differential non-monetary characteristics of the same job in different industries so workers have no incentive to move between industries. 12. See the introduction to Chapter 12 in the main text. . | Chapter 12 The analysis of factor markets: labour David Begg, Stanley Fischer and Rudiger Dornbusch, Economics, 6th Edition, McGraw-Hill, 2000 Power Point presentation by Peter Smith Some important questions Why does a top professional footballer earn so much more than a professor? Why does an unskilled worker in the EU earn more than an unskilled worker in India? Why do market economies not manage to provide jobs for all their citizens who want to work? Why are different methods of production used in different countries? 12. See the introduction to Chapter 12 in the main text. The demand for labour Derived demand: the demand for a factor of production is derived from the demand for the output produced by that factor. Equalizing wage differential the monetary compensation for the differential non-monetary characteristics of the same job in different industries so workers have no incentive to move between industries. 12. See the introduction to Chapter 12 in the main text. Demand for factors in the long run The optimum mix of capital and labour depends on the relative prices of these factors This helps to explain why more labour-intensive means of production are used in some countries where labour is relatively abundant. A change in the price of one factor will have both output and substitution effects A rise in the wage rate leads to substitution towards more capital-intensive techniques but also leads to lower total output 12. See Section 12-1 in the main text. The demand for labour in the short run Under perfect competition, with diminishing marginal productivity: the firm maximizes profit when the marginal cost of employing an extra worker equals the MVPL. MVPL Employment Wage, MVPL The marginal value product of labour is the revenue obtained by selling the output produced by an extra worker W0 12. See Section 12-2 in the main text, and Figure 12-2. The demand for labour in the short run MVPL Employment Wage, MVPL W0 E this occurs at E where .