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ID:39766514
大小:219.88 KB
页数:35页
时间:2019-07-11
《lecture4_Labour Demand and Equilibrium》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、ECON3027LabourEconomics4LabourDemandandLabourMarketEquilibriumIntroductionHiringandfiringdecisionsoffirmscreateanddestroymanyjobsWhydoMicrosoftandMotorolawishtoemploythosewillingtosupplytheirparticularlabourservices?HowisMattel’sdemandforlabouraffectedbyincreasesinthedeman
2、dfortoysitproduces?Thedemandforlabourisaderiveddemand.Howproductivelabourisincreatingsomeproducts/servicesThemarketvalueofthatproduct/service.Shortandlong-runlabourdemandEmploymentandwagesinperfectandinimperfectcompetitionTheFirm’sProductionFunctionDescribesthetechnolog
3、ythatthefirmusestoproducegoodsandservices:q=f(E,K)Thefirm’soutputcanbeproducedbyavarietyofcapital–laborcombinations.Themarginalproductoflaboristhechangeinoutputresultingfromhiringanadditionalworker,holdingconstantthequantitiesofotherinputs.Themarginalproductofcapitalisthec
4、hangeinoutputresultingfromhiringoneadditionalunitofcapital,holdingconstantthequantitiesofotherinputs.TheTotalProduct,theMarginalProduct,andtheAverageProductCurves14025120AverageProduct201001580TotalProduct60OutputCurveOutput1040520MarginalProduct00024681012024681012NumberofWo
5、rkersNumberofWorkersThetotalproductcurvegivestherelationshipbetweenoutputandthenumberofworkershiredbythefirm(holdingcapitalfixed).Themarginalproductcurveshowstheoutputproducedbyeachadditionalworker,andtheaverageproductcurveshowsoutputperworker.ProfitMaximizationObjectiveofth
6、efirmistomaximizeprofits.Theprofitfunctionis:–Profits=pq–wE–rKTotalRevenue=pqTotalCosts=(wE+rk)Perfectlycompetitivefirmscannotinfluencepricesofoutputorinputs.TheFirm'sHiringDecisionintheShort-RunAprofit-maximizing38firmhiresworkersuptothepointVAPEwherethewage22rateequalst
7、heVMPEvalueofmarginalproductoflabor.Ifthewageis$22,NumberofWorkersthefirmhireseight148workers.MaximizingProfitsThevalueofmarginalproductoflabourinPCisVMPe=pxMPe–ThehiringconditionVMPe=wsopMPe=wThecostofproducinganextraunitofoutput:–MC=wx(1/MPe)Thecondition:producetothepoin
8、twhereMC=P(forthecompetitivefirm,P=MR)•Wx(1/MPe)=PIfproductmarketpe
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