In the same city, one job currently pays $6 more per hour than another job. The two jobs have equivalent training requirements, but labor is not migrating toward the higher-paying occupation. Both markets are perfectly competitive. Which of the following conclusions is correct?

a. The lower-paying occupation has less attractive nonmonetary characteristics.
b. There are barriers to entry into the higher-paying occupation.
c. The higher-paying occupation has a dominant labor union.
d. There are barriers to entry into the lower-paying occupation.
e. The higher-paying occupation has less attractive nonmonetary characteristics.


E

Economics

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