The labor market is composed of
a. a relatively homogeneous supply of labor and downward-sloping demand curve.
b. a vertical supply curve for labor and relatively elastic market demand.
c. many submarkets for labor of different types.
d. more teenagers than any other age group of labor.
c
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Based on the lost-income approach, which of the following 30 year old males would most likely be worth the most in terms of the value of his life?
A) Devin, a high-school dropout who works as a barista. B) Antonio, a college graduate who is on permanent disability due to severe diabetes. C) Timothy, a licensed electrician with two years of college. D) Jamal, a CPA with a master's degree in accounting.
In the 1950s, the National Football League (NFL) had a virtual monopoly because _____________.
Fill in the blank(s) with the appropriate word(s).