Top Posters
Since Sunday
5
o
5
4
m
4
b
4
x
4
a
4
l
4
t
4
S
4
m
3
s
3
New Topic  
Hpreet796 Hpreet796
wrote...
Posts: 472
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:
Read 78 times
1 Reply
Replies
Answer verified by a subject expert
urbacoreurbacore
wrote...
Posts: 367
4 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

Hpreet796 Author
wrote...

4 years ago
Thanks
wrote...

Yesterday
Smart ... Thanks!
wrote...

2 hours ago
Thanks
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  987 People Browsing
Related Images
  
 603
  
 297
  
 177
Your Opinion
What's your favorite math subject?
Votes: 293