Multiple Choice
-Consider an economy in which all labor markets are perfectly competitive,all workers are equally able to do any job,and the nonwage attributes of all jobs are equally attractive to all workers.Figure 12-1 shows supply and demand curves in the labor markets for maintenance workers and machinists.In the long run,the hourly wage rate(s)
A) for machinists will fall to $8
B) for maintenance workers will rise to $11
C) will equalize below $8 in both markets
D) will equalize between $8 and $11 in both markets
E) will equalize above $11 in both markets
Correct Answer:
Verified
Correct Answer:
Verified
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