Human Capital and Wages Consider people who are left-handed vs. right-handed. Draw simple supply and demand diagrams
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Human Capital and Wages
Consider people who are left-handed vs. right-handed. Draw simple supply and demand diagrams for how the different factors below might generate wage-differentials between these two groups, and explain how/why curves may shift for each of the factors.
a. Lefties and righties have the same levels of human capital, so identical MPLs. For many various reasons, lefties work in industries with higher output prices.
b. Lefties have higher education levels, on average, than righties (note: could this affect multiple variables?)
c. When lefties and righties have kids, lefties are often expected to care for the children more than righties.
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