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Which of the following is required for all workers to earn identical wages in the long run? Check all that apply. All jobs require the performance of similar types of tasks. All workers have equal ability and can be trained to do different types of employment at minimum cost. Workers can move from one labor market to another at zero cost. All workers must have a bachelor's degree.

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azikennamdi

Question:

Which of the following is required for all workers to earn identical wages in the long run? Check all that apply.

A) All jobs require the performance of similar types of tasks.

B) All workers have equal ability and can be trained to do different types of employment at minimum cost.

C) Workers can move from one labor market to another at zero cost.

D) All workers must have a bachelor's degree.

Answer:

The correct answers are:  A & C

Explanation:

This is an Economics question which speaks to the subject of Labor Markets.

A perfectly competitive labor market is one where:

  • There are many firms
  • Perfect information about wages and job conditions.
  • Firms are offering identical jobs
  • Workers can move from one labor market to another at zero cost.
  • Many workers with the same skills

Cheers!

Martebi

The statement that is required for all workers to earn identical wages in the long run is that Workers can move from one labor market to another at zero cost

  • In the market, the price of labor, the wage rate, is often set by the intersection of supply and demand.

When there is an increase in supply of labor, the equilibrium price falls, and vice versa.

A justified wage is a type of wages that is paid on a fair level of compensation paid to an employee that takes into account both market and non-market factors. Moving from one job to another ddoes not incur any charges.

Learn more from

https://brainly.com/question/17100506

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