Marginalism Essays

Why do Some People Get Paid More Than Others_

Pay in the private sector is a matter of demand and supply, sometimes influenced by market imperfections. In the public sector the picture is less clear cut, but the public sector must be considered if only because in so many countries it is such a major employer. (It would be a big mistake to assume that MRP doesn’t affect the public sector just because it doesn’t exist in most of the public sector. Since public sector employees have alternative work…

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