Doctors demand large salaries in part because
A)they are forbidden by U.S.law from receiving economic rent.
B)most doctors have backward-bending labor supply curves.
C)they participate in the secondary labor market.
D)they have made significant investments in human capital.

Question

Quizplus · Accepted Answer

Doctors have to invest a significant amount of money and time in their education and training to acquire the knowledge and skills required for their profession. As a result, they demand higher salaries to compensate for this investment in human capital.

Doctors Demand Large Salaries in Part Because