The human-capital theory explanation for why people invest in education has been challenged by a theory that suggests
a. schooling acts only as a signal of ability.
b. humans cannot be considered "capital."
c. productivity is not linked to wages.
d. ability, effort, and chance matter more.
a
Economics
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How is the wage to be paid to a worker determined by a profit-maximizing firm? If a marginal worker creates 8 units of a product in a month that is sold for $5 per unit, how much should be the maximum wage that should be paid to him?
What will be an ideal response?
Economics
The demand for a good is more elastic if the
A) good is a necessity. B) good has few substitutes. C) good is narrowly defined. D) supply of the good is plentiful. E) Both answers B and C are correct.
Economics