One reason we might think of certain colleges are top-rate is if we observe that attending that college considerably improves the skills of the people who go there. For example, we'd expect that someone who goes through a Caltech engineering program becomes a much better engineer as a result of their Caltech schooling. This means that we'd expect wages to be higher for people who graduate from top-rate schools because. The MPL in labor demand will be higher for these graduates O The Pin labor demand will be higher for these graduates The minimum wage will be higher for these graduates Labor supply will shift left for these graduates when they graduate
One reason we might think of certain colleges are top-rate is if we observe that attending that college considerably improves the skills of the people who go there. For example, we'd expect that someone who goes through a Caltech engineering program becomes a much better engineer as a result of their Caltech schooling. This means that we'd expect wages to be higher for people who graduate from top-rate schools because. The MPL in labor demand will be higher for these graduates O The Pin labor demand will be higher for these graduates The minimum wage will be higher for these graduates Labor supply will shift left for these graduates when they graduate
Chapter11: Profit Maximization
Section: Chapter Questions
Problem 11.8P
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Transcribed Image Text:One reason we might think of certain colleges are top-rate is if we observe that attending that
college considerably improves the skills of the people who go there. For example, we'd expect that
someone who goes through a Caltech engineering program becomes a much better engineer as a
result of their Caltech schooling.
This means that we'd expect wages to be higher for people who graduate from top-rate schools
because..
The MPL in labor demand will be higher for these graduates
The Pin labor demand will be higher for these graduates
The minimum wage will be higher for these graduates
Labor supply will shift left for these graduates when they graduate
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