Which of the following is an example of a temporary price differential in a resource market?
A)Land downtown being more expensive than land in the suburbs
B)A famous professional basketball player being paid more than the average professional basketball player
C)Cable television installers having a higher wage than telephone installers
D)An airline pilot being paid more than a flight attendant
E)A worker in a toxic waste plant earning more than a teacher

Question

​Which of the following is an example of a temporary price differential in a resource market?
A)Land downtown being more expensive than land in the suburbs
B)A famous professional basketball player being paid more than the average professional basketball player
C)Cable television installers having a higher wage than telephone installers
D)An airline pilot being paid more than a flight attendant
E)A worker in a toxic waste plant earning more than a teacher

Quizplus · Accepted Answer

Temporary price differentials in a resource market refer to short-term variations in wages due to changes in demand and supply. In this case, cable television installers having a higher wage than telephone installers can be attributed to a temporary increase in demand for cable television services, leading to an increase in wages for installers. The other options do not necessarily involve temporary price differentials.

​Which of the Following Is an Example of a Temporary

Which of the Following Is an Example of a Temporary