Which of the Following Is True? at a Given Quantity

question 45

Multiple Choice

Which of the following is true? At a given quantity of employment,if the
i.value of marginal product of a high-skill worker is $35 and the value of marginal product of a low-skill worker is $10,the value of marginal product of the skill is $25.
ii.value of marginal product of a high-skill worker is $35 and the value of marginal product of a low-skill worker is $10,the cost of acquiring the skill is $25.
iii.value of marginal product of a skill is $25,then the wage rate must be $25.

• A) i only
• B) ii only
• C) iii only
• D) i and iii
• E) ii and iii

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Definitions:

Virginia Plan

A proposal by Virginia delegates for a bicameral legislative branch during the drafting of the United States Constitution in 1787.

New Jersey Plan

A proposal for the structure of the United States Government presented at the Constitutional Convention in 1787, emphasizing equal state representation in Congress regardless of population.

Republicanism

A political ideology centered on citizenship in a state organized as a republic under which the people hold popular sovereignty.

Revolutionary Spirit

The fervor or mindset among a population that drives them to seek radical structural change within their society or government, often through dramatic means.