Author Question: The above figure shows the supply and demand curves for high-skilled and low-skilled labor. The ... (Read 496 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?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

For a complete list of videos, visit our video library