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 - Review Questions - Page 350: 5



Work Step by Step

It makes sense that older workers have more human capital (and thus higher MRP's), for they have years of experience in the industry. Since it is hard to replace this experience, the human capital is large.
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