« previous next »

Author Question: What is the real wage rate? What will be an ideal response?[br][br][b][color=#151B54]Question ... (Read 91 times)

hubes95

  • Hero Member
  • *****
  • Posts: 561
on: Jun 29, 2018
What is the real wage rate?
 
  What will be an ideal response?

Question 2

In the above figure showing a perfectly competitive firm's total revenue line, the firm's marginal revenue
 
  A) falls as output increases.
  B) does not change as output increases.
  C) rises as output increases.
  D) cannot be determined.


cclemon1

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jun 29, 2018
Answer to Question 1

The real wage rate is the money wage rate corrected for changes in the price level. It is calculated by dividing the money wage rate by the price level. The real wage rate is the quantity of goods and services that can be purchased by an hour's worth of work.

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Generally, the total tax burden in the United States is much lower than that of other industrialize Generally, the total tax burden in the United States is much lower than that of other industrialize
Question Above Question Above
Income per Capita versus Total Fertility Rate Income per Capita versus Total Fertility Rate
What rate, compounded once every 3 years, is equivalent to 9% effective rate? What rate, compounded once every 3 years, is equivalent to 9% effective rate?
Math question Math question
Light Brown Eye Color Light Brown Eye Color
Video: Role of the respiratory system - effect of altered ventilation rates

For a complete list of videos, visit our video library