1. what happens to the equilibrium wage and quantity of labor if output price rises?
A the equilibrium wage and the equilibrium quantity of labor fall.
B the equilibrium wage falls and the equilibrium quantity of labor rises.
C equilibrium wage and the equilibrium quantity of labor rises.
D the equilibrium wage rises and the equilibrium quantity of labor falls.
2. which of the fallowing explains why talented major league baseball players command much higher salaries than neurosurgeons?
A because it takes far more skill and training to be a major league baseball players than to be a neurosurgeon
B because the supply of talented major league baseball players is low relative to its demand compared to the supply of neurosurgeons.therefor, adding another players yields far greater marginal benefit than adding another neurosurgeons.
C because the supply of talented major league baseball players is relatively low compared to the supply of neurosurgeon.
D because the total value of baseball games is much higher than the total value neurosurgery.
3. which of the following is a reason why it is difficult to estimate the extent of economic discrimination in the labor market?
A different in wages can be attributed to many other factors as well, such as differences in productivity and preferences.
B Ultimately, employers who discriminate cannot remain profitable.
C employers who discriminate pay an economic profitable.
D emoloyers who discriminate are likely to do soin overt ways such as awarding some workers with benefits in kind.