Assume a firm incurs overall labor costs of $22 per hour- which includes wages and training costs. Unit training costs equals $160/h and the wage equals $20/h. How many firms are there?
Assume a firm incurs overall labor costs of $22 per hour- which includes wages and training costs. Unit training costs equals $160/h and the wage equals $20/h. How many firms are there?
Chapter1: Making Economics Decisions
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![4) Skill Circle Model
Assume a firm incurs overall labor costs of $22 per hour- which includes wages and training
costs. Unit training costs equals $160/h and the wage equals $20/h. How many firms are there?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8c7a7fed-f528-423a-83b4-1526c4b1b114%2F13c67799-0a1d-4256-b42c-d1841953170c%2Ff46wfdr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:4) Skill Circle Model
Assume a firm incurs overall labor costs of $22 per hour- which includes wages and training
costs. Unit training costs equals $160/h and the wage equals $20/h. How many firms are there?
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