John receives job training at Firm X. BEFORE training his best wage elsewhere is

Question

John receives job training at Firm X. BEFORE training his best wage elsewhere is $20,000 AFTER training his best wage elsewhere is $40,000 Firm X pays John $18,000 during training and $40,000 after. 18) Which of the 2 types of on-the-job-training we studied is John receiving? 19) Who is financing John's on-the-job-training? 20) After training, John's MPL at firm X must be: (A) GREATER THAN $40,000 (B) LESS THAN S40,000 (C) EQUAL TO $40,000 (D) NONE OF THESE Jane receives job training at Firm X. BEFORE training her best wage elsewhere is $20,000. AFTER training her best wage elsewhere is $20,000. Firm X pays Jane $20,000 during training and $30,000 after. 21) Which of the 2 types of on-the-job-training we studied is Jane receiving? 22) Who is financing Jane's on-the-job-training? 23) After training, Jane's MPL at firm X must be: (A) GREATER THAN $30,000 (B) LESS THAN S30,000 (C) EQUAL TO $30,000 24) Why does firm X in question (23) pay Jane more than she could earn elsewhere after the training is over ? 25) Give one PSYCHIC RETURN OF GETTING A COLLEGE DEGREE

Explanation / Answer

18. John is receiving stuctured or planned training. A significant investment is made for this training on the employee and it teaches to complete a task sucessfully.

19. Firm X is financing or the employer is financing this training programme.

20. Option A

Marginal product of labour is change in total output due to addition of one labour unit. Because John is now more productive than before due to the training, so his MPL would increase. Wages are paid in accordance with the MPL, so higher the skill higher would be the wages.

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