Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

22. In his 2011 book, Beauty Pays: Why Attractive People Are More Successful, economist Dan Hamermesh claims that ugly people are discriminated against and over

image text in transcribed
22. In his 2011 book, Beauty Pays: Why Attractive People Are More Successful, economist Dan Hamermesh claims that ugly people are discriminated against and over the course of a lifetime they are worse off by about $230,000. He says "It's a matter of simple prejudice. Most of us, regardless of our professed attitudes, prefer as customers to buy from better-looking sales people, as jurors to listen to better-looking attorneys, as voters to be led by better-looking politicians, as students to learn from better-looking professors." Hamermesh proposes that firms should be forced to pay people the same regardless of their beauty. Suppose, for the sake of argument, that we could actually measure beauty in such a way that we could enforce a law that required firms to pay unattractive people the same wage as attractive people. Suppose also that all firm owners have the prejudice Hamermesh claims, namely, the firm owners prefer to hire good looking people over others. Using basic supply and demand graphs for each labor market, show what would happen if such a law was put in place Who would benefit and who would lose from such a law

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

Students also viewed these Economics questions