Description
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.
Explanation & Answer
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Attached.
Running head: ECONOMIC DISCUSSION POST
Economic Discussion Post
Name
Institution
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ECONOMIC DISCUSSION POST
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Economic Discussion Post
Nickolas (2018) describes human capital as a combination of knowledge, abilities,
and life involvements of either a person or personnel. Further, Netcoh (2016) contends that
advanced echelons of human capital are anticipated to generate augmented remunerations
along with the gross domestic product thus sustaining people as well as the overall society.
He...
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