Suppose That Low-Productivity Workers All Have Marginal Products of 10

question 11

Multiple Choice

Suppose that low-productivity workers all have marginal products of 10 and high-productivity workers all have marginal products of 15.The community has equal numbers of each type of worker.The local community college offers a course in microeconomics.High-productivity workers think taking this course is as bad as a wage cut of $2, and low-productivity workers think it is as bad as a wage cut of $4.

• A)There is a separating equilibrium in which high- productivity workers take the course and are paid $15 and low-productivity workers do not take the course and are paid $10.
• B)There is no separating equilibrium and no pooling equilibrium.
• C)There is no separating equilibrium, but there is a pooling equilibrium in which everybody is paid $12.50.
• D)There is a separating equilibrium in which high-productivity workers take the course and are paid $17 and low-productivity workers do not take the course and are paid $10.
• E)There is a separating equilibrium in which high-productivity workers take the course and are paid $15 and low-productivity workers are paid $12.50.

Acknowledge the challenges faced by the early American government and the rationale for the Constitutional Convention of 1787.

Understand the compromises and plans that contributed to the formation of the U.S. Constitution.

Identify the major weaknesses of the Articles of Confederation.

Recognize the role and impact of pivotal events and movements (e.g., Shays' Rebellion) on the formation of the U.S. government structure.

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Definitions:

Night-time Security Guard

A night-time security guard is a person employed to protect property, assets, or people during the night hours, often deterring theft or vandalism.

Sales Commissions

Sales commissions are financial incentives given to sales employees based on the volume of sales they generate.

Item Sold

A product or service that has been purchased by a customer, contributing to a company's sales revenue.

Direct Materials

Raw materials that are directly traceable to the manufacturing of a product and represent a significant portion of the production cost.