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Chapter 5. Frictions in the Labor Market. Figure 5.1: The Supply of Labor to Firm A: Worker Mobility Costs Increase the Slope of the Labor Supply Curve Facing Individual Employers. Table 5.1: Labor Supply Schedule for a Hypothetical Firm Operating in a Monopsonistic Market.

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chapter 5

Chapter 5

Frictions in the Labor Market

slide2
Figure 5.1: The Supply of Labor to Firm A: Worker Mobility Costs Increase the Slope of the Labor Supply Curve Facing Individual Employers
slide5
Figure 5.3: Profit-Maximizing Employment and Wage Levels in a Firm Facing a Monopsonistic Labor Market
slide6
Figure 5.4: The Monopsonistic Firm’s Short-Run Response to a Leftward Shift in Labor Supply: Employment Falls and Wage Increase
slide7
Figure 5.5: Minimum-Wage Effects under Monopsonistic Conditions: Both Wages and Employment Can Increase in the Short Run
table 5 2 hours devoted by firms to training a new worker during first three months on job 1992
Table 5.2: Hours Devoted by Firms to Training a New Worker during First Three Months on Job, 1992
table 5 3 employee benefits as a percentage of total compensation 2006
Table 5.3: Employee Benefits as a Percentage of Total Compensation, 2006

(Average Hourly Cost in Parentheses)

slide11
Figure 5.7: Productivity and Wage Growth, First Two Years on Job, by Occupation and Initial Hours of Employer Training
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