What is a fair salary for a professor at this college? What is an efficient salary? Choose
a. A salary that allows professors to have their dignity; A salary that is based on their education.
b. Impossible to ascertain; A salary that reflects the prevailing pay of other public servants.
c. Where supply and demand intersect in this market; an amount of money where the professors can take care of their needs.
d. Likely very different than the market equilibrium wage; where self-interested professors and Valencia College can reach an agreement without the pressure of shortages, or the inefficiency of surpluses being part of the outcome.
