Calculate the output per dollar wage and unit labor cost, Microeconomics

Using the Wage Rate and Output per Hour as indicated on the table below, calculate the output per dollar wage and unit labor cost. Then decide on the optimal wage rate for this company beyond which it is no longer profitable for the firm to pay its workers. Illustrate your analysis on a graph for both output per dollar wage and unit labor cost.

Wage Rate

 

Output per Hour

10


33

20


68

30


106

40


151

50


183

60


211

 

 

 

 

Posted Date: 3/1/2013 7:08:45 AM | Location : United States







Related Discussions:- Calculate the output per dollar wage and unit labor cost, Assignment Help, Ask Question on Calculate the output per dollar wage and unit labor cost, Get Answer, Expert's Help, Calculate the output per dollar wage and unit labor cost Discussions

Write discussion on Calculate the output per dollar wage and unit labor cost
Your posts are moderated
Related Questions
How solve central problem of economy in mixed economic system?

how to find pareto efficient output using algebra

If we have two products, A and B, which are substitutes, we can expect that a rise in the price of A (or B) will cause the demand for B (or A) to go up.” Examine this statement wit

Q. Central Planning of economic system? Central Planning: An economic system in that crucial decisions regarding consumption, investment, exchange rates, interest rates and pri


The Short Run versus long Run - Short-run: Period of time in which the quantities of one or more production factors cannot be changed. These inputs are called as fi

What is the difference between price value and price level?  Price value is the value of commodity bought by the consumer at a certain price from the market, while, price level

how do minimum units cost change with changes in fixed cost

Determine the oldest ideas in economics One of the oldest ideas in economics is that increases in technology certainly run into natural resource scarcity and so lead to increas

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4