Examlex
Solve the proportion. Round the result to three significant digits when necessary.
Higher Wage
A wage rate that is above the average or minimum level commonly paid for similar work.
Wage Discrimination
Unequal pay for workers who perform similar jobs or duties, often based on gender, race, age, or sexual orientation.
Marginal Productivity
The increase in output produced by adding one more unit of a specific input, keeping all other inputs constant.
Market Failure
A situation where the allocation of goods and services by a free market is not efficient, often due to externalities, monopolies, information asymmetries, or public goods.
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