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Chapter 29

Problem 1

What could account for a backward-bending labor supply curve?

Problem 2

What is human capital? Is a college degree considered to be human capital?

Problem 5

What is the difference between legal and illegal immigration?

Problem 15

Demonstrate how a minimum wage affects the unskilled labor market. Is the labor market perfectly competitive? Can you find any examples of monopsonistic hiring? What would a minimum wage do in a monopsonistic market?

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