Refer to the diagram and list of assumptions. With women confined to occupation Z and men free to choose occupations, how will this affect the wages paid?
(1) the labor force is comprised of 9 million men and 9 million women workers; (2) the economy has 3 occupations, X, Y, and Z, each having identical demand curves for labor; (3) men and women workers are homogeneous with respect to their labor-market capabilities; (4) women are discriminated against by being excluded from occupations X and Y and are confined to Z; and (5) aside from discrimination, the economy is competitive, and workers seek to maximize their earnings.
A. Men and women will both be paid $5.
B. Men will be paid $5 and women $4.
C. Men will be paid $6.50 and women $3.
D. Women and men will both be paid $6.50.
C. Men will be paid $6.50 and women $3.
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A. output must fall beyond a certain point. B. price must fall beyond a certain point. C. the marginal product of the variable input must eventually decrease. D. wages of workers must eventually increase.
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Indicate whether the statement is true or false
In the graph above, what do the dotted lines represent?
A) transaction and opportunity costs B) the boundaries of profitability for arbitrage C) the risk premium associated with the countries D) the variability in spot rate expectations