Multiple Choice
Which of the following conditions is not necessary for wage rates to be identical in every labor market in both the short run and the long run?
A) Demand for labor is identical in each market.
B) Nonpecuniary factors in each job are the same.
C) All labor is homogeneous.
D) All labor has zero costs of mobility.
E) All of the above are necessary conditions.
Correct Answer:
Verified
Correct Answer:
Verified
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