Author Question: According to the indifference principle, in the long run if being a teacher is more desirable than ... (Read 114 times)

jho37 · **on:** Jul 1, 2018

According to the indifference principle, in the long run if being a teacher is more desirable than being a garbage collector,
a. teachers would be paid a relatively higher salary than garbage collectors
b. teachers would be paid a relatively lower salary than garbage collectors
c. teachers and garbage collectors would both be paid the same wages
d. none of the above

Question 2

The more bidders there are at a second-price auction,
a. the higher the expected selling price
b. the higher each bidder bids
c. the more each bidder will shade his bid
d. the less each bidder will shade his bid