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Author Question: Minimum Wage and Efficiency WagesSuppose there are two types of workers. One type of worker ... (Read 2061 times)

hannahmadyronde

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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


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Marked as best answer by hannahmadyronde on Nov 23, 2022

kyledifference

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hannahmadyronde

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Reply 2 on: Nov 23, 2022
Gracias!


mcabuhat

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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