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28. wage differentials are not affected by : (1). existence of nqn-competing groups (2) (3) geographical defferences 14) demand for and supply of labour market
28. Wage differentials are not affected by : (1). Existence of nqn-competing groups (2) (3) Geographical defferences 14) Demand for and supply of Labour Market Imperfections (1) R-afrt i 3fu aRT (2) a1R giamei TRT 13) 14) 3TRaTRT 29. Quasi-rent refers to: (1) rent on account of fixed supply of land (2 long term return on machinės and equipment (3) Surius earned by machine in the short period (4 long term reward for human ability
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29. The concept of quasi-rent was given by Alfred Marshall. He defined quasi rent as surplus earnings generated by the factors of production, except land. The earnings from machines and instruments are termed as quasi-rent. And this only pertains to short period. Hence the correct answer is option (3).