Suppose that labor market experience is the only characteristic that influences wages. Suppose also that males and

Question:

Suppose that labor market experience is the only characteristic that influences wages. Suppose also that males and females have different levels of experience and have different "wage functions" (equations that show relationship between wages and experience). The male and female wage functions are given by the following:

Males Wage = 10 +.5 Experience Females Wage = 9+.25 Experience

Based on the given information, the wage for a male with 10 years of labor market experience is _____ per hour and the wage for a female with 10 years of labor market experience is _____ per hour.

a. $15; $15 

b. $11.50; $11.50 

c. $15; $11.50

d. $11.50; $15

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Question Posted: