Use the Figure Below to Answer the Following Questions

question 116

Multiple Choice

Use the figure below to answer the following questions.

Figure 19.3.5
-Refer to Figure 19.3.5. This figure shows the labour supply curves and the value of marginal product curves for high-skilled and low-skilled workers. If the labour markets are competitive, then for a 40-hour work week, high-skilled workers must be paid

• A)an extra $3 to compensate for the cost of acquiring their human capital and for their increased productivity.
• B)an extra $20 to compensate for the cost of acquiring their human capital and for their increased productivity.
• C)an extra $120 to compensate for the cost of acquiring their human capital and for their increased productivity.
• D)an extra $300 to compensate for the cost of acquiring their human capital and for their enhanced productivity.
• E)an extra $180 to compensate for the cost of acquiring their human capital and for their increased productivity.

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Definitions:

Acceptance of Change

The level at which individuals or organizations adapt to or embrace new policies, procedures, or environments without significant resistance.

Behavioural Science

An interdisciplinary field studying human actions and the internal and external factors influencing them, including psychology, sociology, and anthropology.

Organizational Change

Organizational change involves the process of modifying an organization's structure, strategies, operational methods, technologies, or organizational culture to effectuate change and achieve desired outcomes.

Systematic Collection

A methodical process of gathering data, resources, or items that is organized and structured to achieve specific objectives.