Economic Discussion Post
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