劳动经济学英语PPT.ppt

劳动经济学英语PPT.ppt

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NextpageCopyright2008byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/IrwinChapter5TheDemandforLaborJumptofirstpage5-5-221.DerivedDemandforLaborJumptofirstpage5-5-33Thedemandforlaborisaderiveddemand.Thatis,itisderivedfromthedemandfortheproductorservicethatthelaborishelpingproduce.Thedemandforhamburgersleadstothedemandforhamburgerworkers.Demandforworkersdependson:

Howtheproductivetheworkersare.ThepriceoftheproducttheworkersarehelpingproduceDerivedDemandJumptofirstpage5-5-442.AFirmsShort-RunProductionFunctionJumptofirstpage5-5-55Aproductionfunctionshowstherelationshipbetweeninputsandoutputs.Assumethatonlytwoinputsareusedtomakeaproduct-labor（L）andcapital（K）.Intheshortrun,atleastoneinputisfixed.Thetotalproductforafirmintheshortrunis:

TPSR=f（K,L）,whereKisfixed.ProductionFunctionJumptofirstpage5-5-66Totalproduct（TP）isthetotalproductproducedbyeachcombinationoflaborandthefixedamountofcapital.Marginalproduct（MP）isthechangeintotalproductassociatedwiththeadditionofonemoreunitoflabor.Averageproduct（AP）isthetotalproductdividedbythenumberofunitsoflabor.DefinitionsJumptofirstpage5-5-77TotalProduct0TotalProduct54321Asunitsofvariableinput（labor）areaddedtoafixedinput,totalproductwillincrease.20304050607080106780910AverageProductMarginalProductTotalProduct（Output）UnitsofVariableResource182203344465566647708749751073Firstatanincreasingrate.Thenatadecliningrate.NotethattheTotalProductcurveissmooth,indicatingthatlaborcanbeincreasedbyamountsoflessthanasingleunit（itisacontinuousfunction）.QuantityofLaborLawofDiminishingReturnsLawofDiminishingReturnsJumptofirstpage5-5-88AverageProductMarginalProduct0Averageand/orMarginalProduct54321TheMarginalProductcurvewillinitiallyincrease（whenTPCisincreasingatanincreasingrate）,reachamaximum,andthendecrease（asTPCincreasesatadecreasingrate）.4812166780910AverageProductMarginalProductTotalProduct（Output）UnitsofVariableResource182203344465566647708749751073-8121412108641-2-81011.311.511.210.7109.38.37.3TheAverageProductcurvewillhavethesamegeneralformexceptthatitsmaximumpointwillbeatahigheroutputlevel.ImportantNote:

MPalwayscrossesAPatitsmaximumpoint.QuantityofLaborLawofDiminishingReturnsLawofDiminishingReturnsJumptofirstpage5-5-99AverageProductMarginalProductAP&MPQuantityofLabor54321481216678910TotalProductTP543212030405060708010678910QuantityofLaborGraphedtogether,onecanseetherelationshipbetweentheTP,MP,andAPcurvesmoreclearly.LawofDiminishingReturnsJumptofirstpage5-5-10103.Short-RunDemandforLabor:

ThePerfectlyCompetitiveSellerJumptofirstpage5-5-1111Marginalrevenueproduct（MRP）isthechangeintotalrevenuethatresultsfromhiringofanadditionalworker.MRP=MarginalRevenue（MR）*MPProfit-maximizingfirmswillhireadditionalworkersaslongaseachworkeraddsmoretorevenuethanshecosts.HiringDecisionJumptofirstpage5-5-1212Marginalwagecost（MWC）isthechangeintotalwagecostofhiringanadditionalworker.TheHiringRule:

HireadditionalworkersuntilMRP=MWC.HiringDecisionJumptofirstpage5-5-1313MPTPL（3）TotalProduct（TP）（unitsperweek）

（2）UnitsofLabor（L）

（1）SalesPrice（PerUnit）（4）TotalRevenue（5）0.05.09.012.014.015.516.517.05.0$1,0004.0$1,8003.0$2,4002.0$2,8001.5$3,1001.0$3,3000.5$3,400-$01000800600400300200100-Inthenumericalexamplebelow,acomputercompanyusesbothtechnologyanddata-entryoperatorstoprovideservicesinaperfectlycompetitivemarket.Foreachunitprocessedthefirmreceives$200（4）.Short-RunDemandforPerfectlyCompetitiveFirmColumn

（2）showshowtotaloutputchangesasadditionaldata-entryoperatorsarehired（givenafixedcapitallevel）.TheMarginalRevenueProductschedule（6）indicateshowhiringanadditionaloperatoraffectsthetotalrevenueofthefirm.01234567$200$200$200$200$200$200$200$200MRPTRL（6）Jumptofirstpage5-5-1414Sinceaprofit-maximizingfirmwillonlyhireanadditionalworkeronlyiftheworkeraddsmoretorevenuesthansheaddstowagecosts,theMRPcurveisthefirmsshortrundemandcurveforlabor.WageRateQuantityofLabor1000Short-RunLaborDemand8006004002001234567Intheshort-run,itwillslopedownwardbecausethemarginalproductoflaborfallsasmoreofitisusedwithafixedamountofcapital.MRP=DLJumptofirstpage5-5-1515Thevalueofmarginalproduct（VMP）istheextraoutputindollartermsthatsocietygainswhenanextraworkerisemployed.VMP=Price*MPForaperfectlycompetitiveseller,MR=Price.Asaresult,VMP=MRPforsuchfirms.ValueofMarginalProductJumptofirstpage5-5-16161.“OnlythatportionoftheMPcurvethatliesbelowAPconstitutesthebasisforafirmsshort-rundemandcurveforlabor.”Explai