Use marginal productivity theory to explain what people earn in the labor market.
-Ceteris paribus, which of the following would tend to cause the wage rate to increase? Draw diagrams to explain your answers.
a. an increase in the labor force participation rate
b. technological advance
c. higher selling prices for output
d. additional education

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The Answer of Use marginal productivity theory to explain what people earn in the labor market.
-Ceteris paribus, which of the following would tend to cause the wage rate to increase? Draw diagrams to explain your answers.
a. an increase in the labor force participation rate
b. technological advance
c. higher selling prices for output
d. additional education

Use Marginal Productivity Theory to Explain What People Earn in the Labor