Author Question: The above figure shows the supply and demand curves for high-skilled and low-skilled labor. The ... (Read 491 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?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

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?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

For a complete list of videos, visit our video library