Multiple Choice
Symbols: Q = number of workers demanded; W = wage rate; and VTP = value of the cumulative total product (output) of the particular number of workers. Assumptions: (1) The current wage in Zinnia is $20, and the current wage in Marigold is $12; (2) full employment exists in both countries.Refer to the given data, symbols, and assumptions. Migration of workers will
A) increase the combined value of total product but reduce the wage in Zinnia.
B) increase the combined value of total product but reduce the wage in Marigold.
C) reduce the combined value of total product but increase the wage in Marigold.
D) reduce the combined value of total product but increase the wage in Zinnia.
Correct Answer:
Verified
Correct Answer:
Verified
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