Suppose a Supply Curve for High-Skilled Labor Is Drawn in the Same

question 109

Multiple Choice

Suppose a supply curve for high-skilled labor is drawn in the same graph as a supply curve for low-skilled labor.The vertical distance between these two curves represents the

• A) wage rate paid to a high-skilled worker.
• B) wage rate paid to a low-skilled worker.
• C) compensation the high-skilled worker requires for the cost of acquiring the skill.
• D) number of high-skill workers that will be hired.
• E) difference in the value of marginal product between the high-skilled workers and the low-skilled workers.

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Definitions:

Vastus Intermedius

A muscle of the anterior thigh situated beneath the rectus femoris, part of the quadriceps femoris group.

Rectus Femoris

A muscle in the quadriceps group that extends the leg at the knee and is involved in the flexion of the thigh at the hip.

Gastrocnemius

A large muscle in the back part of the lower leg, involved in walking, running, and jumping.

Gastrocnemius

A major calf muscle that flexes the leg at the knee and foot.