Which of the Following Does NOT Explain Why Canadian Wage

question 26

Multiple Choice

Which of the following does NOT explain why Canadian wage rates are higher than wage rates in developing countries?  

• A) better education and training of workers in Canada 
• B) greater availability of capital in Canada 
• C) use of the latest technology in Canada 
• D) unstable business conditions in Canada

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Definitions:

Knitted Caps

Hats made by intertwining yarn or thread in patterns by hand or with knitting needles.

Marginal Revenue

Marginal revenue is the additional income received from selling one more unit of a good or service, crucial for determining the optimal production level and pricing strategies for businesses.

Perfectly Competitive

A market structure characterized by a large number of buyers and sellers, homogenous products, and easy entry and exit from the market.

Price Takers

Entities that have no power to influence the market price of the product they are selling or buying; they accept the prevailing market price.