The market wage could be higher than the equilibrium wage if a worker
a. belongs to a labor union.
b. is covered by a minimum-wage law.
c. is paid an efficiency wage.
d. All of the above are correct.
d
Economics
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What is Okun's Law?
What will be an ideal response?
Economics
The above figure shows the marginal benefit from pollution for two firms. If each firm receives a marketable permit to produce 25 units of pollution, which one of the following is most likely to happen?
A) Firm B will sell some pollution rights to firm A. B) Firm A will sell some pollution rights to firm B. C) Firm A will produce all 50 units of pollution. D) Both firms will produce 25 units of pollution.
Economics