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Which of the following would be considered an investment in human capital? O education All of these answers are correct statements. the purchase of a new computer to enhance labor productivity O a teacher's blackboard Question 37 1 When an employer pays the cost of educating a worker, it is likely that the employer is demonstrating altruistic motives. o receives reimbursement from the government for the cost of the education. O hopes to recapture its investment in the form of increased labor productivity. is pursuing some objective other than profit-maximization. Question 38 1 The statement that "professors are paid less than lawyers and doctors, but have similar amounts education" is likely to reflect market conditions such that O professors must receive a compensating wage differential with job satisfaction. O education is not likely to be related to compensation. O the jobs of doctors and lawyers provide more job satisfaction than the jobs of professors. All of these statements are correct. Question 39 1 Why do economists consider utility companies as natural monopoly to operate efficiently rather than having a competition? In a natural monopoly, MC <ATC at Q which is consistent with market demand levels. It can offer price at minimum point of ATC in the LR O it satisfies MC pricing criteria of efficiency O All of these answers are correct statements.