Suppose that John is a high-school drop out with a market wage of $8. a. Give two reasons why John' MRPL might increase if the firm pays an efficiency wage? b. The relationship between John's wage and...

Suppose that John is a high-school drop out<br>with a market wage of $8.<br>a. Give two reasons why John' MRPL might increase<br>if the firm pays an efficiency wage?<br>b. The relationship between John's wage and MRPL<br>is given in the table below. What is the efficient<br>wage for John?<br>Wage ($/hour)<br>MRPL ($/hour)<br>$8<br>$8.00<br>$9<br>$9.50<br>$10<br>$11.00<br>$11<br>$12.25<br>$12<br>$13.00<br>$13<br>$13.50<br>$14<br>$14.00<br>

Extracted text: Suppose that John is a high-school drop out with a market wage of $8. a. Give two reasons why John' MRPL might increase if the firm pays an efficiency wage? b. The relationship between John's wage and MRPL is given in the table below. What is the efficient wage for John? Wage ($/hour) MRPL ($/hour) $8 $8.00 $9 $9.50 $10 $11.00 $11 $12.25 $12 $13.00 $13 $13.50 $14 $14.00

Jun 11, 2022

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Suppose that John is a high-school drop out with a market wage of $8. a. Give two reasons why John' MRPL might increase if the firm pays an efficiency wage? b. The relationship between John's wage and...

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