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Home Q & A Board Other Fields Homework Help Business Economics
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Hpreet796 Hpreet796
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4 years ago

Question 1.

If a worker can produce 20 units of output which can be sold for $4 per unit, what is the maximum wage that firm should pay to hire this worker?



▸

$80



▸

It depends on what the going wage rate is in the labor market.



▸

$80 minus the firm's profit markup



▸

There is insufficient information to answer the question.



Question 2.

An increase in a perfectly competitive firm's demand for labor could be caused by



▸

an increase in the market demand for the firm's product.



▸

a decrease in the marginal product of workers.



▸

a decrease in the market wage rate.



▸

an increase in the quantity of labor supplied.

Textbook 
InMicro

InMicro


Edition: 1st
Authors:
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urbacoreurbacore
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4 years ago
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Hpreet796 Author
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4 years ago
Smart ... Thanks!
joyceess
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Yesterday
This helped my grade so much Perfect
kc123
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2 hours ago
this is exactly what I needed
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