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Seinfeld Economics: The Suicide
by Linda Ghent `

The supply of labor is the number of total hours that workers wish to work at a given real wage rate. 

Each worker has a reservation wage rate whereby they are induced to perform paid market work. Wages offered below a worker's reservation wage would keep him from participating in the labor force.

A common resource is a type of good consisting of a natural or human-made resource system, whose size or characteristics makes it costly, but not impossible, to exclude potential beneficiaries from obtaining benefits from its use. Unlike pure public goods, common resources face problems of congestion or overuse, because they are rival. Examples of common resources include irrigation systems, fishing grounds, pastures, forests, water or the atmosphere.

 

This Commentary is related to the following Clips:
Seinfeld: The Suicide by Larry David & Jerry Seinfeld (1992) erry asks George to throw away Jerry's garbage. George asks for $2. Jerry offers 50 cents, and George refuses. Jerry sets it down in front of Kramer's door and knocks. Oddly, Kramer takes it.