refer 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.

-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)$9.50; $9.50
C)$10.00; $10.00
D)$$9.50; $11.50

Question

refer 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.

-After all adjustments to equilibrium take place in this market,the equilibrium wage rate in markets A and B,respectively,are:

-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)$9.50; $9.50 
C)$10.00; $10.00 
D)$$9.50; $11.50

Quizplus · Accepted Answer

In equilibrium, wages tend to equalize across markets due to labor mobility and competition, leading to the same wage rate in both markets A and B.

Refer to the Following Information Given in the Table Below $$950; $11