Problem
1. Are you in the primary labor market or the secondary labor market? Use your answer to show how these markets differ.
2. Explain why the backward-bending labor supply curve has this shape.
3. What is economic rent? Make up an example that illustrates this concept.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.