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Show that in a labor market with perfect information and mobility, OSHA safety regulations that...

Question:

Show that in a labor market with perfect information and mobility, OSHA safety regulations that mandate lower risk levels could make some employees worse off and put some firms out of business.

Occupational Hazards:

Occupational hazards are risks associated with working in a particular place. These hazards are of different types. Some of these include physical hazards, biological hazards, and chemical hazards.

  • Physical Hazards: These include risks to one's physical health. For instance, slipping or tripping at the workplace.
  • Chemical Hazards: These include risks to one's internal health posed by exposure to harmful chemicals.
  • Biological Hazards: These hazards include exposure to harmful viruses, animals, and so on.

Answer and Explanation:

OSHA stands for Occupational Safety and Health Administration, which is an agency in America, used to enforce standards for the safety of workers. The...

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