MODERN LABOR ECONOMICS 11 TH EDITION THEORY AND

MODERN LABOR ECONOMICS 11 TH EDITION THEORY AND PUBLIC POLICY CHAPTER 5 Frictions in the Labor Market Modern Labor Economics: Theory and Public Policy, Eleventh Edition Ronald G. Ehrenberg • Robert S. Smith Copyright © 2012 by Pearson Education, Inc. All rights reserved.

Figure 5. 1 The Supply of Labor to Firm A: Worker-Mobility Costs Increase the Slope of the Labor Supply Curve Facing Individual Employers Modern Labor Economics: Theory and Public Policy, Eleventh Edition Ronald G. Ehrenberg • Robert S. Smith Copyright © 2012 by Pearson Education, Inc. All rights reserved.

Table 5. 1 Labor Supply Schedule for a Hypothetical Firm Operating in a Monopsonistic Market Modern Labor Economics: Theory and Public Policy, Eleventh Edition Ronald G. Ehrenberg • Robert S. Smith Copyright © 2012 by Pearson Education, Inc. All rights reserved.

Figure 5. 2 A Graph of the Firm-Level Data in Table 5. 1 Modern Labor Economics: Theory and Public Policy, Eleventh Edition Ronald G. Ehrenberg • Robert S. Smith Copyright © 2012 by Pearson Education, Inc. All rights reserved.

Figure 5. 3 Profit-Maximizing Employment and Wage Levels in a Firm Facing a Monopsonistic Labor Market Modern Labor Economics: Theory and Public Policy, Eleventh Edition Ronald G. Ehrenberg • Robert S. Smith Copyright © 2012 by Pearson Education, Inc. All rights reserved.

Figure 5. 4 The Monopsonistic Firm’s Short-Run Response to a Leftward Shift in Labor Supply: Employment Falls and Wage Increases Modern Labor Economics: Theory and Public Policy, Eleventh Edition Ronald G. Ehrenberg • Robert S. Smith Copyright © 2012 by Pearson Education, Inc. All rights reserved.

Figure 5. 5 Minimum-Wage Effects under Monopsonistic Conditions: Both Wages and Employment Can Increase in the Short Run Modern Labor Economics: Theory and Public Policy, Eleventh Edition Ronald G. Ehrenberg • Robert S. Smith Copyright © 2012 by Pearson Education, Inc. All rights reserved.

Table 5. 2 Hours Devoted by Firms to Training a New Worker during First Three Months on Job, 1992 Modern Labor Economics: Theory and Public Policy, Eleventh Edition Ronald G. Ehrenberg • Robert S. Smith Copyright © 2012 by Pearson Education, Inc. All rights reserved.

Table 5. 3 Employee Benefits as a Percentage of Total Compensation, 2010 (Average Hourly Cost in Parentheses) Modern Labor Economics: Theory and Public Policy, Eleventh Edition Ronald G. Ehrenberg • Robert S. Smith Copyright © 2012 by Pearson Education, Inc. All rights reserved.

Figure 5. 6 The Predicted Relationship between MEM /MEH and Overtime Hours Modern Labor Economics: Theory and Public Policy, Eleventh Edition Ronald G. Ehrenberg • Robert S. Smith Copyright © 2012 by Pearson Education, Inc. All rights reserved.

Figure 5. 7 Productivity and Wage Growth, First Two Years on Job, by Occupation and Initial Hours of Employer Training Modern Labor Economics: Theory and Public Policy, Eleventh Edition Ronald G. Ehrenberg • Robert S. Smith Copyright © 2012 by Pearson Education, Inc. All rights reserved.