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Overview of the Labor Market
The Demand for Labor
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actual analysis associated assume average become benefits blacks capital cause Chapter compensation consider constant costs decisions decline demand curve demand for labor differentials discrimination discussion earnings Economic effect elasticity employed employees employment equal estimates evidence example exist expected fact factors fall Figure firm fringe given greater higher hiring important incentives income increase indicates individuals industries inflation investment labor force labor market less lower males marginal product noted occupational occur offer output paid pension percent percentage period person present productivity profits programs reason receive reduce Relations relative represents result rise risk schooling sector shift skilled social studies substitution supply Suppose Table tend theory unemployed unemployment rate union United utility wage rate women workers