Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 15 - Wage Determination - Discussion Questions - Page 350: 8


The answer is below.

Work Step by Step

It makes a lot of sense to invest in human capital, for more educated workers are able to do more things for a company and are also often more efficient. At the same time, this would only make sense for certain sectors. For instance, if I needed someone to flip hamburgers, it would not be worth paying someone with a PhD to do it as the job would likely not justify a high salary.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.