1. Chapter 3 The Demand for Labor

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3. Copyright © 2003 by Pearson Education, Inc.3-3 Figure 3.1 Demand for Labor in the Short Run (Real Wage)

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5. Copyright © 2003 by Pearson Education, Inc.3-5 Figure 3.2 Demand for Labor in the Short Run (Money Wage)

6. Copyright © 2003 by Pearson Education, Inc.3-6 Figure 3.3 Effect of Increase in the Price of One Input (k) on Demand for Another Input (j), Where Inputs Are Substitutes in Production

7. Copyright © 2003 by Pearson Education, Inc.3-7 Figure 3.4 The Effects of Monopsony

8. Copyright © 2003 by Pearson Education, Inc.3-8 Figure 3.5 The Monopsonist’s Short-Run Response to a Leftward Shift in Labor Supply: Employment Falls and Wage Increases

9. Copyright © 2003 by Pearson Education, Inc.3-9 Figure 3.6 Minimum Wage Effects under Monopsony: Both Wages and Employment Can Increase in the Short Run

10. Copyright © 2003 by Pearson Education, Inc.3-10 Figure 3.7 The Market Demand Curve and Effects of an Employer-Financed Payroll Tax

11. Copyright © 2003 by Pearson Education, Inc.3-11 Figure 3.8 Payroll Tax with a Vertical Supply Curve

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13. Copyright © 2003 by Pearson Education, Inc.3-13 Figure 3A.1 A Production Function

14. Copyright © 2003 by Pearson Education, Inc.3-14 Figure 3A.2 The Declining Marginal Productivity of Labor

15. Copyright © 2003 by Pearson Education, Inc.3-15 Figure 3A.3 Cost Minimization in the Production of Q* (Wage = $10 per Hour; Price of a Unit of Capital = $20)

16. Copyright © 2003 by Pearson Education, Inc.3-16 Figure 3A.4 Cost Minimization in the Production of Q* (Wage = $20 per Hour; Price of a Unit of Capital = $20)

17. Copyright © 2003 by Pearson Education, Inc.3-17 Figure 3A.5 The Substitution and Scale Effects of a Wage Increase