Suppose a competitive labor market is populated by equal numbers of high-ability (H)and low-ability (L)workers.Each high-ability worker produces output valued at $100 and each low-ability worker produces output valued at $20.In terms of time for their effort,it costs $60 for high-ability students to acquire a college degree while it costs low-ability students $75 to acquire a college degree.High-ability students ______ acquire a college degree and will be paid ______.
A) will not;$60
B) will not;$100
C) will;$60
D) will;$100
E) will;$10

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The Answer of Suppose a competitive labor market is populated by equal numbers of high-ability (H)and low-ability (L)workers.Each high-ability worker produces output valued at $100 and each low-ability worker produces output valued at $20.In terms of time for their effort,it costs $60 for high-ability students to acquire a college degree while it costs low-ability students $75 to acquire a college degree.High-ability students ______ acquire a college degree and will be paid ______.
A) will not;$60
B) will not;$100
C) will;$60
D) will;$100
E) will;$10

Suppose a Competitive Labor Market Is Populated by Equal Numbers