Suppose the US government requires firms to provide Workers Compensation Insurance Coverage for its employees. How does this mandate affect labor market outcomes (employment and wages) when workers

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Elin HesselLv2

3 Aug 2019

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Assume labor market demand is given by LD = 10 - w and labor market supply by LS = w- 2. Suppose that the government mandates that all firms provide a particular benefit to their workers and that this benefit costs t = $1 per unit of labor hired. Suppose also that workers derive no value from the mandated benefit. After the implementation of the mandate, what is the equilibrium quantity of labor hired?.

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Consider an economy with two labor markets—one for manufacturing workers and one for service workers. Suppose initially that neither is unionized.

a. If manufacturing workers formed a union, what impact would you predict on the wages and employment in manufacturing?

b. How would these changes in the manufacturing labor market affect the supply of labor in the market for service workers? What would happen to the equilibrium wage and employment in this labor market?