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The workers could claim that their marginal product is high, after all the capital expenditures and so they should be earning high wages. This claim

The workers could claim that their marginal product is high, after all the capital expenditures and so they should be earning high wages. This claim is completely irrelevant by itself because it is not the case that the MARGINAL product is high, only that average product is high, and the spot market model does not tell us that firms should pay when average product is high. The essence of the spot market model is that you should pay resources for their scarcity value, so that unless there is a scarcity of workers for New Yorker, they should not be rewarded much. If, on the other hand, their talent is harder to replace than other journalists, then it becomes a reason for paying more

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