Answer: $56,072
Explanation:
Since the median pay per hour is $26.96, and the workers are willing to work for 40 hours pay week, the amount that'll be earned each week will be:
= $26.96 × 40
= $1078.40
Note that there are 52 weeks in a year, therefore, the amount they'll make per year will be:
= $1078.40 × 52
= $56076.80
Therefore, the correct option is C
Yes the two goods are therefore substitutes <span>if the price f a good X rises, causing the demand for good Y to fall for example two substitutes tea and coffee and the price of tea will be increase when the demand of coffee will decrease because now more people will demand tea and when demand increases price increases.
Hope it helps.
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