earn in a day

Q: In a tradeoff between two decision criteria such as ease of commuting and attractiveness of job, can…

A: Tradeoff signifies the action of receiving a benefit from one decision while forgoing another. The…

Q: true or false The marginal revenue product of labor is the extra revenue associated with the last…

A: False A marginal revenue product (MRP) is defined as the market value having an one additional…

Q: Explain the meaning and significance of the fact that the demand for labor is a derived demand. Why…

A: Demand refers to the need and wants of something with available resources and required money for…

Q: What steps are taken when the supply of employees is predicted to be greater than demand?

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

Q: Carlos has 168 hours per week to divide between labour and leisure. For his job, Carlos is allowed…

A: Carlos has total working hours per week=168 W=$25 and h=60 hours per week Payroll tax=20% which is…

Q: What is the impact of derived demand on labor wages?

A: 1.Derived demand is indirect demand.for example if there is demand for steel then there will be…

Q: Q.1.20 An upward-sloping labour supply curve illustrates that ceteris paribus; (a) the quantity of…

A: Labor is an important resource used by business companies in making or developing goods and…

Q: The New York Times cost $0.15 in 1970 and $2.00 in 2011. The average wage in manufacturing was $3.36…

A: wage rate in 1970 = $3.36 /hour  Wage rate in 2011 = $23.09 /hour

Q: Work and Utility. Explain the concept of the "net utility of work." How is it useful in developing…

A:

Q: Jack has 16 hour available to work in the day, his wage rate is $25 per hour, and he has…

A: Part (b): Impact of Increased Commuting Costs and Time  Increase in Commuting Costs from $50 to $70…

Q: Suppose a worker is offered a wage of $5 per hour, plus a fixed payment of $40. What is the equation…

A: Fixed payment = $40 Variable wage = $5 / hour Opportunity set = 40 + 5Q Q is the number of hours he…

Q: automation affect the job market over the next decade

A: Automation means the replacement of human efforts with machinary. This will help increase the…

Q: Output Marginal Profit Labor Marginal Product of Value of Wage (daily) Marginal Product of Labor…

A: The value of marginal product of labor(MRPL) is the marginal product of labor(MPL) multiplied by…

Q: Darla gets her utility from consumption C and leisure L. The most leisure she can consume in any…

A: A laborer's reservation wage is the lowest pay permitted by law that the laborer needs to take an…

Q: Compare different pay scales. Decide if it is better to receive $500 a week or to be paid hourly at…

A: There can be different methods of the pay scale. Employees can be paid a fixed salary or fixed…

Q: If a job pays a wage of $50 per hour, but has a non-wage cost valued at $20 per hour, the net…

A: Net benefit: Net benefit for a particular thing is calculated by adding up all the benefits and…

Q: factors that could cause an increase in the wage rate of workers.

A: Wage rate refers to the remuneration paid to the workers. Wages are considered as expenses by the…