Which of the following is (are)a difference between high-skilled workers and low-skilled workers?
i.High-skilled workers have a higher value of marginal product.
ii.High-skilled workers have incurred lower opportunity costs to acquire their skills.
iii.The demand for high-skilled workers exceeds that for low-skilled workers.

Question

Quizplus · Accepted Answer

Option i is a difference between high-skilled workers and low-skilled workers as high-skilled workers have a higher value of marginal product in contrast to low-skilled workers. Option iii is also a difference between high-skilled workers and low-skilled workers because the demand for high-skilled workers is more than that of low-skilled workers. However, option ii is incorrect because high-skilled workers incur higher opportunity costs to acquire their skills, in contrast to low-skilled workers. Therefore, the correct answer is D - i and iii are correct, but ii is incorrect.

Which of the Following Is (Are)a Difference Between High-Skilled Workers