What is current prevailing weekly wage rate in labor market

Assignment Help Econometrics

Reference no: EM13200871

A profit maximizing monopolist hires workers in a perfectly competitive labor market. Employing the last worker increased the firm's total weekly output from 110 units to 111 units and caused the firm's weekly revenues to rise from $25,000 to $25,750. What is the current prevailing weekly wage rate in the labor market?

Reference no: EM13200871

Questions Cloud

What is the probability that the propoportion of flights : a certain airline claims the 95% of its flights arrive on time. What is the probability that the propoportion of flights in the sample that arrive on time will be greater than .94?

Find the maximum volume of this package : Postal regulations specify that a parcel sent by parcel post may have a combined length and girth (distance around) of no more than 102 inches. If a rectangular package has a square end, find the maximum volume of this package.

Determine the maximum amount fabco : Using a PW approach determine the maximum amount Fabco should be willing to pay for the valves and how many days/year must the truck's services be needed such that the two alternatives are equally costly?

Write a function which expresses total area of display area : He has 180 linear feet of fencing material to use to fence in the display area. Write a function which expresses the total area of the display area in terms of the length x of the side of the display area opposite the building.

What is current prevailing weekly wage rate in labor market : A profit maximizing monopolist hires workers in a perfectly competitive labor market. Employing the last worker increased the firm's total weekly output from 110 units to 111 units and caused the firm's weekly revenues to rise.

Define a steep mountain is inclined degree to the horizontal : A steep mountain is inclined 74 degree to the horizontal and rises 3400 ft above the surrounding plain. A cable car is to be installed that will travel from a point 910 ft from the base (along the horizontal) to the top of the mountain.

What integer would represent your total budget : 80,000 loan and a 38,250 mustbe repaid within ten years. What integer would represent your total budget?

Should the new lathe be purchased : The firm estimates the revenues and expenses for the new and the old lathes to be as shown in the following table. The firm is subject to a 40% tax rate. Should the new lathe be purchased?

Find the amount of material needed to create such logo : Find the amount of material needed to create such logo.

User Account

All Pages