2. Alternative explanations of wage disparities Suppose that a professor of labor economics finds that one of their research subjects has earned significantly higher wages throughout their lifetime than would be predicted by standard measured variables. The economist also notes that each of the subject's job roles was linked to social connections established at their family's yacht club. Which item from the following list most likely explains this individual's high earnings? Chance Efficiency wages Effort Compensating differentials Suppose that Hilary receives higher pay from her company than her colleagues, despite the fact that they perform basically the same type of role. If Hillary's productivity is about 37 percent higher than that of her second-best colleague, which of the concepts from the following list can explain this wage disparity? Check all that apply. Natural ability Compensating differentials Human capital Discrimination The superstar phenomenon.

2. Alternative explanations of wage disparities Suppose that a professor of labor economics finds that one of their research subjects has earned significantly higher wages throughout their lifetime than would be predicted by standard measured variables. The economist also notes that each of the subject's job roles was linked to social connections established at their family's yacht club. Which item from the following list most likely explains this individual's high earnings? Chance Efficiency wages Effort Compensating differentials Suppose that Hilary receives higher pay from her company than her colleagues, despite the fact that they perform basically the same type of role. If Hillary's productivity is about 37 percent higher than that of her second-best colleague, which of the concepts from the following list can explain this wage disparity? Check all that apply. Natural ability Compensating differentials Human capital Discrimination The superstar phenomenon.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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In the competitive labor market model of this chapter, the "value of the marginal product minus the wage" (MPL xP - W) for a given unit of labor (e.g., worker) gives Group of answer choices a) the change in output from the unit of labor being considered. b) the change in profit from the unit of labor being considered. c) the change in revenue from the unit of labor being considered. d) the change in price from the unit of labor being considered. e) the change in cost from the unit of labor being considered.
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Can you please help solve question 10 a,b and c please show full working so I can compare it to my own work Thank you
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