Kevin (a highly skilled businessman) earns $ 150,000 a year. If he were to return to his

Question:

“Kevin (a highly skilled businessman) earns $ 150,000 a year. If he were to return to his native New Guinea (where there are more limited business opportunities), Kevin would be able to earn only $ 5,000 a year. This proves both that Kevin doesn’t deserve his high salary and that wages are arbitrarily set in the United States.” Evaluate this statement.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Microeconomics Theory and Applications

ISBN: 978-1118758878

12th edition

Authors: Edgar K. Browning, Mark A. Zupan

Question Posted: