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2 years ago

If the wage rate decreases from $17 to $13, by how much will the firm expand employment?

1 answer:

5 0

Option D. If the wage rate should decrease from $17 to $13, the firm is going to expand by a total of 2 workers.

This can be defined as the amount of money that is used to pay for labor. The wage rate is the base wage that is paid to a worker at a time based on the unit of work that they have done in an establishment. It is the amount that is paid based on a person's output.

<h3>How to solve for the wage rate</h3>

We have to solve for the expanse in employment by first considering the rate that is to be paid for an extra unit of labor

Hence if the firm should decrease wage rate the number of workers that would be available at 17 dollars = 6 workers

At 13 dollars = 4 workers

Hence the change would be solved as

6 workers - 4 workers

= 2 workers

Hence we have to conclude that the firm would have to expand labor by a total of two workers.

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