Problem
1. Colleges are known to pay rather low wages for student labor. Can this trend be explained by the operation of supply and demand in the local labor markets? Is the concept of monopsony of any use? How might things differ if students formed a union?
2. College professors are highly skilled (or at least highly educated!) laborers, yet their wages are not very high. Is this a refutation of the marginal productivity theory?
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.