Ask your own question, for FREE!
Economics - Financial Markets 7 Online
OpenStudy (anonymous):

Why is the equilibrium wage higher for doctors than for convenience store clerks?

OpenStudy (helder_edwin):

one of the reasons might be that there r less doctors (less offer of labor in that market) than people with the (very low) required skills to be a store clerk. other reason could be that in order to get the required qualifications to be a doctor u need to go to a (good) univesity and usually that is very expensive. so MD graduates would not accept the low equilibrium wage of a store clerk

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!