Author Question: The above figure shows the supply and demand curves for high-skilled and low-skilled labor. The ... (Read 490 times)

debasdf

  • Hero Member
  • *****
  • Posts: 570
The above figure shows the supply and demand curves for high-skilled and low-skilled labor. The figure shows that high-skilled workers earn a wage rate greater than low-skilled workers because
 
  A) the supply of high-skilled labor is greater than the supply of low-skilled labor.
  B) high-skilled labor has a lower value of marginal product.
  C) of both the cost of acquiring skills and the differences in the value of marginal products.
  D) of discrimination.

Question 2

A monopolistically competitive firm can increase its economic profit by ________.
 
  A) developing new products
  B) producing at the efficient quantity
  C) eliminating excess capacity
  D) advertising less



Dnite

  • Sr. Member
  • ****
  • Posts: 297
Answer to Question 1

C

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

For a complete list of videos, visit our video library