TheBusinessProfessor
  • Home
  • Academy
  • SearchBase
  • Membership
    • Account
Select Page

Technology and Labor Demand

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

How does Technology affects Demand for Labor? Economic events can change the equilibrium salary (or wage) and quantity of labor. Consider how the wave of new information technologies, like computer and telecommunications networks, has affected low-skill and high-skill...

Minimum Wages – Price Floor in Labor Market

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

How does a Minimum Wage act as a Price Floor in the Labor Market?In contrast to goods and services markets, price ceilings are rare in labor markets, because rules that prevent people from earning income are not politically popular. There is one exception: boards of...

Labor Demand in Perfectly Competitive Markets

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is Labor Demand in Perfectly Competitive Markets?The question for any firm is how much labor to hire.We can define a Perfectly Competitive Labor Market as one where firms can hire all the labor they wish at the...

Imperfect Competition in Labor Markets

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

What is Imperfect Competition in Labor Markets?There are probably more examples of perfectly competitive labor markets than perfectly competitive product markets, but that doesn’t mean that all labor markets are competitive.When a job applicant is bargaining with an...

Irrational Consumer Behavior – Economics

by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy

Is Consumer Behavior Rational in Economics?There is much human behavior that mainstream economists have tended to call “irrational” since it is consistently at odds with economists’ utility maximizing models. The typical response is for economists to brush these...
« Older Entries
Next Entries »

Designed by Elegant Themes | Powered by WordPress