Asked by Ashley Eggleston on Jul 01, 2024
Angie was the last worker hired by a firm that is competitive in the labor market. The labor market always is in equilibrium. The firm sells its output for $24 per unit. When Angie was hired, the firm's output increased by 2 units per hour as a result. What is Angie's hourly wage?
Hourly Wage
The rate an employee is paid for each hour of work.
- Examine the balance point in employment decisions through the lens of maximizing profits.
Learning Objectives
- Examine the balance point in employment decisions through the lens of maximizing profits.