Which of the following theories explains why better-educated workers are paid more than less-educated workers? Question 29 options: the human-capital and signalling theories the human-capital and price-fixing theories the wage-differential and common-demand theories the cost-allocation and derived-demand theories

Which of the following theories explains why better-educated workers are paid more than less-educated workers? Question 29 options: the human-capital and signalling theories the human-capital and price-fixing theories the wage-differential and common-demand theories the cost-allocation and derived-demand theories

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Labor Markets

Section: Chapter Questions

Problem 4SQ

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Which of the following did the author suggest might disguise the employment effects of raising the minimum wage? a. Firms may substitute lower-skilled labor with capital b. Firms may substitute lower-skilled labor with higher-skilled labor c. Firms might substitute lower-skilled labor with other lower-skilled labor d. Firms may pass along higher production costs onto consumers via higher prices, decreasing the quantity demanded and hence, the quantity of labor demanded

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	the human-capital and signalling theories
	the human-capital and price-fixing theories
	the wage-differential and common-demand theories
	the cost-allocation and derived-demand theories