Describe how improving human capital increases wages

Describe how improving human capital increases wages

The motivation for many people pursuing a college degree is to improve their human capital.

  • Describe how improving human capital increases wages. In your description, be sure to address the marginal product of labor.
  • Explain how rising wages could lead to a backward bending supply of the labor curve.
  • Discuss factors that could lead to an increase in the labor supply and the effect that shift would have on wages.

 

Answer preview:

Word:300