What probably happens to wages at the factory

Reference no: EM131823353

Question: 1. When the crime rate falls in the area around a factory, what probably happens to wages at that factory?

2. Let's take the idea from the previous question and use it to explain why businesses sometimes try to make their employees happy. If a business can make a job seem fun (by offering inexpensive pizza lunches) or at least safe (by nagging the city government to put police patrols around the factory), what probably happens to the supply of labor? What happens to the equilibrium wage if a factory or office or laboratory becomes a great place where people "really want to work"? How does this explain why the hourly wage for the typical radio or television announcer is only $13 per hour, lower than almost any other job in the entertainment or broadcasting industry?

Reference no: EM131823353

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