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killerbear900 killerbear900
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A year ago
Minimum Wage and Efficiency Wages

Suppose there are two types of workers. One type of worker generates a marginal revenue product of $90 an hour and has an opportunity cost of $72 per hour. The other type of worker generates a marginal revenue product of $25 an hour and has an opportunity cost of $20 an hour. What wage will equal the average productivity of the workers? Which workers will choose to work at that wage?
Please round your final answer to two decimal places.

▸ $57.50, both low productivity and high productivity workers

▸ $57.50, low productivity only

▸ $46.00, low productivity only

▸ $46.00, both low productivity and high productivity workers
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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joshamjosham
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A year ago
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killerbear900 Author
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A year ago
This calls for a celebration Person Raising Both Hands in Celebration
halyna
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Smart ... Thanks!
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You make an excellent tutor!
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