In a perfectly competitive labour market, all workers would earn the same wage if

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Quizplus · Accepted Answer

In a perfectly competitive labour market, workers and jobs are identical in every way, meaning that there is no differentiation between workers based on education, experience, or any other characteristic. As a result, all workers are considered substitutes for each other and will be paid the same wage. However, in reality, there are many factors that can lead to wage differentials, such as regional differences in the cost of living or differences in skill levels and experience among workers.

In a Perfectly Competitive Labour Market, All Workers Would Earn