refer to the diagram below, which represents a local labor market consisting of two submarkets. All workers are assumed to be identical.
-Assume that information is perfect,mobility between jobs is costless,and that all nonwage aspects of the two are identical.The outcome shown in the diagram:
A) represents an equilibrium
B) does not represent an equilibrium.The demand for labor in market A will shift rightward,and that in market B will shift leftward until wage rates equalize
C) does not represent an equilibrium.The supply of labor in market A will shift leftward,and that in market B will shift rightward until the wage rates equalize
D) does not represent an equilibrium.The supply of labor in market B will shift leftward,and that in market A will shift rightward until the wage rates equalize
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Q1: refer to the following diagram Q2: In 2010,hourly pay (measured in U.S.dollars)was highest Q4: Which of the following research findings would Q5: Of the following industries,2011 average hourly earnings Q6: Of the following occupational groups,2011 average hourly Q7: If job X pays more than identical Q8: Heterogeneous jobs are those that: Q9: refer to the diagram below, which represents Q10: Lower-paid workers often seem to have less Q11: Suppose all workers are identical but working
A)pay identical wages
B)have
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