Which of the following statements are true? Higher natural ability leads to higher wages because:
(i) those with higher natural ability will have a higher marginal product, all else equal
(ii) those with higher natural ability tend to exhibit higher work effort
(iii) people with higher natural ability deserve higher wages
A) (i) only
B) (ii) only
C) (i) and (ii) only
D) (i) , (ii) and (iii)
Correct Answer:
Verified
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