Firms are willing to pay more for workers with greater human capital because workers with greater human capital have a greater value of marginal product.
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Q2: A compensating differential is the difference in
Q3: The most important factors of production are
A)
Q4: A decrease in the demand for fish
A)
Q5: A factor exhibits diminishing marginal productivity if
Q6: At least some of the difference in
Q7: If there is a difference in wages
Q8: If a factor exhibits diminishing marginal product,
Q9: If there is an increase in the
Q10: The value of the marginal product of
Q11: An increase in the supply of capital
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