Tradeoff between Leisure and Wages
… a core concept in Economic Analysis and Atlas102
Concept description
Alex Tabarrok (reference below, video on right) explores the relationship between xxx
Tabarrok shows that
Practice questions
From http://www.mruniversity.com/node/301759, accessed 8 May 2016.
- Let’s apply the idea of compensating differentials to janitorial jobs. Suppose there are two quite similar restaurants in the same town, Orange Bee’s and the City Inn. Both have the same demand for janitorial labor. But all the janitors in town know that it’s much more fun to work at City Inn. Which restaurant will pay a higher wage for janitors?
-
Source
Alex Tabarrok, The Tradeoff Between Fun and Wages (3-minute video), Marginal Revolution University, at http://www.mruniversity.com/courses/principles-economics-microeconomics/tradeoff-wages-no-such-thing-as-free-lunch, accessed 8 May 2016.
Atlas topic and subject
Labour Markets (core topic) in Economic Analysis and Atlas102.
Page created by: Ian Clark, last modified on 8 May 2016.
Image: Alex Tabarrok, minute 0:15 in The Tradeoff Between Fun and Wages (3-minute video), Marginal Revolution University, at http://www.mruniversity.com/courses/principles-economics-microeconomics/tradeoff-wages-no-such-thing-as-free-lunch, accessed 8 May 2016.