Sal's Salon hires workers to give manicures. The market for manicures is perfectly competitive, and the price of a manicure is $20. The labour market is competitive, and the wage rate is $180 a day. The table shows part of the workers' total product schedule. If the price of a manicure remains at $20 but the wage rate rises to $240 a day, what happens to the value of marginal product of labour? Does Sal's Salon hire more workers or fewer workers? ..... The value of marginal product of labour Sal's Salon hires workers. O A. does not change; fewer B. does not change; does not change C. increases; more D. decreases; fewer

Sal's Salon hires workers to give manicures. The market for manicures is perfectly competitive, and the price of a manicure is $20. The labour market is competitive, and the wage rate is $180 a day. The table shows part of the workers' total product schedule. If the price of a manicure remains at $20 but the wage rate rises to $240 a day, what happens to the value of marginal product of labour? Does Sal's Salon hire more workers or fewer workers? ..... The value of marginal product of labour Sal's Salon hires workers. O A. does not change; fewer B. does not change; does not change C. increases; more D. decreases; fewer

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter30: The Labor Market

Section: Chapter Questions

Problem 14E

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