Microeconomics (Christopher T.S. Ragan) (z-lib.org)

Canadians with more years of education earn more than those with less education. With each increase in the level of educational ...

from such retained earnings adds to the value of the firm and hence raises the market value of existing shares. Debt The firm’s ...

Wage differentials according to experience are readily observable in firms and occupations. To a significant extent, these diffe ...

Many firms raise money by issuing shares and selling them to investors. This share certificate for Massey-Ferguson, a company th ...

then introduce discrimination between two sets of equally qualified workers. The discussion here is phrased in terms of males an ...

Goals of Firms Economists generally make two key assumptions about firm behaviour. First, firms are assumed to be profit-maximiz ...

Figure 14-3 The Effect of Discrimination on Wages Now suppose discrimination enters in an extreme form: All E occupations are he ...

Is It Socially Responsible to Maximize Profits? In recent years there has been growing public discussion of the need for firms, ...

workers in E have higher skills than those in O. This is an equilibrium wage differential.) Since men and women have the same di ...

banks or mortgage brokers—making unethical business decisions and thereby earning profits at the expense of other parties? Isn’t ...

differentials. The simple answer is that the differentials will persist as long as the discrimination itself persists. Consider ...

policymakers to design new rules that will make it costly for firms to continue such actions. Various non-governmental organizat ...

The attitudes of many white customers were responsible for much discrimination against black people in the United States in the ...

occurred when Nike was heavily criticized for contracting its production to Asian “sweatshops,” where workers were treated very ...

and act on it, there will be an increase in demand for well-qualified women, eventually reversing the effects of the initial dis ...

7.2 Production, Costs, and Profits We must now specify a little more precisely the concepts of production, costs, and profits th ...

Wage Differentials in Non-competitive Labour Markets We have examined several explanations for why wage differentials exist in c ...

The items that make up the first group of inputs are called intermediate products because they are the output of one firm but th ...

Figure 14-4 A Monopoly Union in a Labour Market As the single seller of labour services to many firms, the union is a monopolist ...

1 Remember that production is a flow: It is so many units per period of time. For example, when we say that production rises fro ...