Suppose the factor market for computer engineers is competitive in India and the United States, but Indian engineers earn one-fifth of what American engineers earn.This means that in India engineers are price-takers, but engineers in America are not.True

Question

Quizplus · Accepted Answer

Both Indian and American engineers being in a competitive market implies they are price-takers. The wage difference could be due to other factors like cost of living, demand, and supply differences, not the nature of the market.

Suppose the Factor Market for Computer Engineers Is Competitive in India