In general, the pay level of medical doctors is higher than that of janitors. How can the difference in the pay level be explained from the economics model of pay per O Due to the required skills and certifications to be a doctor being much more difficult to obtain, there is more demand of labor for doctors than janitors. O Due to the required skills and certifications to be a doctor being much more difficult to obtain, there is less supply of labor for doctors than janitors. O Due to the required skills and certifications to be a doctor being much more difficult to obtain, there is less demand of labor for doctors than janitors. O Due to the required skills and certifications to be a doctor being much more difficult to obtain, there is more supply of labor for doctors than janitors.
In general, the pay level of medical doctors is higher than that of janitors. How can the difference in the pay level be explained from the economics model of pay per O Due to the required skills and certifications to be a doctor being much more difficult to obtain, there is more demand of labor for doctors than janitors. O Due to the required skills and certifications to be a doctor being much more difficult to obtain, there is less supply of labor for doctors than janitors. O Due to the required skills and certifications to be a doctor being much more difficult to obtain, there is less demand of labor for doctors than janitors. O Due to the required skills and certifications to be a doctor being much more difficult to obtain, there is more supply of labor for doctors than janitors.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:In general, the pay level of medical doctors is higher than that of janitors. How can the difference in the pay level be explained from the economics model of pay perspective?
O Due to the required skills and certifications to be a doctor being much more difficult to obtain, there is more demand of labor for doctors than janitors.
O Due to the required skills and certifications to be a doctor being much more difficult to obtain, there is less supply of labor for doctors than janitors.
O Due to the required skills and certifications to be a doctor being much more difficult to obtain, there is less demand of labor for doctors than janitors.
O Due to the required skills and certifications to be a doctor being much more difficult to obtain, there is more supply of labor for doctors than janitors.
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