http://tinypic.com/view.php?pic=2j31cwj&s=5 1. In the graph above, if comparable

Question

http://tinypic.com/view.php?pic=2j31cwj&s=5

1. In the graph above, if comparable worth doctrine sets the wage rate in market A and B at $18, then
a. both markets would be in equilibrium
b. there would be a surplus of workers in both markets
c. there would be a shortage of workers in market A and a surplus of workers in market B
d. there would be a shortage of workers in market B and a surplus of workers in market A
e. there would be a surplus of workers in market B and equilibrium in market A

http://tinypic.com/view.php?pic=j8of1l&s=5

2. In the figure above assume that both macro- and microeconomists must be paid $15 because of comparable worth laws. The level of employment for macro- and microeconomists respectively is
a. 50, 90
b. 60, 100
c. 50, 110
d. 60, 110
e. 50, 100

3. If the marginal product of a worker is 10 and the marginal revenue product is $10, the marginal revenue must be
a. $5
b. $2
c. $20
d. $200
e. $10

Explanation / Answer

Ans1.- e. there would be a surplus of workers in market B and equilibrium in market A

Ans2. a. 50, 90

Ans3. e. $10

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