All of the Following Are Examples of Equilibrium Factor-Price Differentials,EXCEPT

question 102

Multiple Choice

All of the following are examples of equilibrium factor-price differentials,EXCEPT

• A)the different prices of two pieces of land,one with a good supply of water and one without.
• B)the different wages earned by labour of varying ability.
• C)the difference in average wages in Toronto and Dryden,Ontario.
• D)an income differential that induces increased rates of entry into the higher paid professions.
• E)higher pay to a dentist than to a dental hygienist.

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Definitions:

Personal Experience

refers to events or encounters an individual personally goes through, shaping their perception and understanding of the world.

Primacy Effect

The Primacy Effect is a cognitive bias that results in a person recalling information presented at the beginning of a list better than information in the middle or end.

Phi Phenomenon

An optical illusion of perceiving a series of still images, when viewed in rapid succession, as continuous motion.

Halo Effect

The tendency to form an overall positive impression of a person based on one positive characteristic.