Discuss characteristics of the labor markets

Reference no: EM1374527

Describe and discuss why characteristics of the labor markets should result in the similar wage rate for all jobs requiring the same level of abilities and skills? Why are earnings on the labor market are not always proportional to abilities?

Demand for good workers = high pay
demand for low workers = low pay

Not proportion to abilities due to unions, minimum wage.

Reference no: EM1374527

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