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From course:

Economics A Level (DONEEEEEEE)

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Question:

Why are the Wages for Lawyers high?

Author: eric_galvao



Answer:

-Demand for Lawyers are High, as they offer a High MRP. They can makes Lots of Revenue for the Firm -Demand is Inelastic too, because Lawyers are not Easily Replaced. Machines aren't pulling up anytime soon -Supply will be Low too, as in the Short Run especially, because of the Time and Money needed to become a Lawyer


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