Bob has been a private school caretaker for 30 years.For practical purposes, assume that Bob's productivity never changes.What then, if anything, will decrease the value of the labour that Bob performs?

Question

Quizplus · Accepted Answer

The value of Bob's labor is directly related to the amount of tuition fees being paid by the students attending the school. If there is a decrease in tuition fees, Bob's labor is worth less even if his productivity remains the same. Therefore, choices A and B are not relevant in this scenario.

Bob Has Been a Private School Caretaker for 30 Years