文稿分析教案mbb lecture6labour market

supplycurveforfirms’demandcurveforindustry’sdemandcurveforlabourmarketFactorsinproduction:Labour,PhysicalcapitalLand/naturalPhysicalcapitalandlandarethetangiblewealthofaneconomy(CapitalincludesbothphysicalcapitalandfinancialThereisatrade-offbetweenconsumptionand(non-marketactivity)-Utilityisafunctionofconsumptionandleisure:U=U(consumption,leisure).Thepriceofleisureisthewagerate.Utilityisafunctionofconsumptionandwork,whereworkproducesnegativeU=U(consumption,work).Somoreconsumptionisneededtocompensatethenegativeutilitycausedbyextraworkinghours.SupplycurveforThestraightlinewhoseslopeisminusthewagerate,intheusualysisofthechoicebetweentwocommodities-consumptionandleisure,theslopeofthebudgetconstraintreflectstheopportunitycostofonecommodityintermsofanother.Theopportunitycostofonehourleisureistheconsumptionforgonebynotworkingthathour,whichisjustthewagerate.Timeisli llymoney.suchanindifferencemapissuperimposedonitsbudgetconstrainttoanindifferencecurve,bundlee1whichconsistsofn1hoursofleisureandy1unitsofconsumption.GivenafixedtimeendowmentofThoursconsumptionofn1hoursofleisureimpliesthatitssT-n1hoursoflabourtotheConsiderwagerateChoosetowork choosetoworkWhenthewagegoesdown,theconsumptionofgoodsandservices esmoreexpensiveinthesensethattheworkerhastogiveupmoreleisureforeachunitofconsumption.Atendencytosubstituteleisureforconsumption,decreaseinlaboursupply. eeffect-foranynumberofhoursworked,less eisearnedafterthewagereduction.Individualispoorer.Thedirectionof eeffectdependsonwhetherthegoodisnormalorinferior.Leisureisanormal egoesdown,demandgoesdown. eandsubstitutioneffectsworkinoppositedirectioneislogicallyambiguous.Laboursupplycurve-ascheduleshowingtherelationshipbetweenthetyoflabourdandthewagerate.thesubstitutioneffectdominatesateverwageeeffectdominatesateverywageBackward-bendinglaboursupplycurve(substitutioneffectdominatesatsomewageratesand eeffectatothers)Thewagerateislow,+wagemorehoursofwork-substitutioneffectdominatesAsthewagecontinuestoincrease,startstoworkfewerhoursfirms’demandcurveforafirm’sdemandforlabouristheflipsideofitssupplyofoutput.Afirmproducesthetythatizesprofits.Andtheprofit- izingtyisthatatwhichmarginalrevenueequalsmarginalcost.Toproducetheprofit- izingty,afirmhirestheprofit- izingtyoflabourMRPL-marginalrevenueproductoflabouristhechangeintotalrevuenethatresultsfromemplyingoonemoreunitoflabour.MRP=margnialrevuene*marginalproduct=marginalrevenue*Δtotalproduct/ΔlabourMRP=Δtotalrevuene/ΔlabourAfirm’smargnialrevenueproductcurveisalsoitsdemandforlabourcurvebecausethefirmhirestheprofit- izingtyoflabour.Ifthewagerateislessthanmarginalrevenueproduct,thefirmcanincreaseitsprofitbyemployingonemoreworker.Concerselyifthewagerateisgreaterthatnmargnialrevenueproduct,thefirmcanincreaseitsprofitbyemployingonefewer izedwhen,atthetyoflabourhired,marginalrevenueproductequalsthewagerateandwhen,attheoutputproduced,marginalrevenueequalsmarginalcost.MRP=MR*MP,MRP=WMR*MP=Wwhenprofitis izedMR*MPequalsthewagerateMR=W/MPwhenprofitis ized,marginalrevenueequalsthewageratedividedbythemarginalproductoflabour,thewageratedividedbythemarginalproductoflabourequalsmarginalcost,MR=MCChangesinthedemandforThepriceofthefirm’soutput,Otherfactorprices(complementorsubstitute),technologyandcapitalindustry’sdemandcurveforlabourmarket某個(gè)industry的地會(huì)使它的input的demand減少-input的價(jià)格降低-MRPL降低-demandDlDl’attheE1,wagesandemploymentarelowerintheindustry.industry（withaspurtofinvestmentinnewmachinery）Withmorecapitaltoworkwith,labourismoreproductiveinotherindustry-SettingwagesequaltotheMRPL,theseindustriespayhigherwages.supplycurveoflabour左SL’.wage,theindustryattractsfewerworkersfromthegeneralpoor.新equilibriumpointE2.EmploymentfallsfromL0-L2.Sincetheremainingworkershavemorecapitaltoworkwiththeyhaveahighermarginalproduct.output會(huì)減縮-shiftstheoutputsupplycurvetotheleftandbidsupoutputprices.Togethertheseeffectsm