Suppose a supply curve for high-skilled labor is drawn in the same graph as a supply curve for low-skilled labor.The vertical distance between these two curves represents the
A) wage rate paid to a high-skilled worker.
B) wage rate paid to a low-skilled worker.
C) compensation the high-skilled worker requires for the cost of acquiring the skill.
D) number of high-skill workers that will be hired.
E) difference in the value of marginal product between the high-skilled workers and the low-skilled workers.
Correct Answer:
Verified
Q49: The inequality of annual income
A) overstates the
Q50: Which of the following statements about poverty
Q51: Which of the following is true? At
Q52: One reason why economists earn more than
Q53: Which type of household has the lowest
Q55: In the United States since 1970,the share
Q56: Skills are costly to acquire.What forms do
Q57: The demand curve for high-skilled workers
A) lies
Q58: Workers who have invested in education and
Q59: If a firm is willing to pay
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents