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4. In 2002 in the UK public sector fire fighters threatened to go on strike because they stated that their earnings were very low compared with other workers. In the same year Robbie Williams, a singer from the UK, signed the largest ever recording deal in the music industry, worth millions of pounds. Discuss whether the economic theory of wages can explain how workers in a vital industry such as the fire-fighting service can have lower pay than workers in a less vital industry such as an entertainment. A. Wage differentiates exist in the market due to various reasons such as skills, net benefits, discriminations, etc. The demand for labour and supply of labour mainly play the main role in wage determination in the factor market. The demand for labour is said to be a desired demand. This is because labour is demanded for the product it can create through its work and...

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