What's the product of 42⁄3 and 111⁄4 ?
2 answers:
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Answer:
Step-by-step explanation:
Sue's initial wage per hour = $10
Sue's wage per hour after the increase = $100
a. Economic surplus to be enjoyed = $100 - $10
= $90
Sue would enjoy an economic surplus of $90.
b. No, because in this case the wage per hour for each 400 student would be;
=
= $0.25
= 25 cents
Redistribution of income is the act of equal sharing of wealth among a certain number of people.
The problem here is that Sue would feel cheated with the division of the earnings among 400 students, but very happy when her wages was increased.
Though the income incentive redistribution programs reduce poverty, but it may be unfair.