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What is the reservation wage

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Consider an individual who must drive to his place of work. Assume that there are 16 available hours in the day, that his wage rate is $20 per hour, and that he has non-labour income of $100 per day. The commute takes one hour each way, and it costs $40 in expenses for the round trip.

What is the reservation wage?

Reference no: EM132502955

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