refers to the following information given in the table below
QUESTION
Question 20 refers to the following information given in the
table below. There are initially 28 workers in market A and 63 workers in
market B as indicated by the shaded cells. All markets are assumed competitive
and there is perfect information and costless migration; jobs in markets A and
B are identical in all nonwage aspects.
La
VMPa
Lb
VMPb
25
10.00
60
12.00
26
9.50
61
11.50
27
9.00
62
11.00
28
8.50
63
10.50
29
8.00
64
10.00
30
7.50
65
9.50
31
7.00
66
9.00
20. After all adjustments to equilibrium take place in this
market, the equilibrium wage rate in
markets A and B,
respectively, are:
a. $8.50; $10.50
b. $10.00; $10.00
c. $9.50; $9.50
d. $$9.50; $11.50
ANSWER:
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