3,5,G SUBMIT 7. The efficioney wage lrypothesis enggests that Muhlple chaice que

Question

3,5,G SUBMIT 7. The efficioney wage lrypothesis enggests that Muhlple chaice questices Dacesion goestiens and Challenge qorstions wage rata is where tho demand for labour equals the supply of labour 8) efficieney wage rate is where the damand for labour is los than the supply of labour soma woruars will shirt,regardless of their wage rate, causing Q ) worters should be paid wage greater dianthe manut-clearing wapa inaficiency Tho demond for Inhour esave of a perfeetly competitive Birnu slopes downward leconse Al to soll more it has to reduce the price of its product 6) die marginal cost od labour increase there are decreasing returns to scale Di the marginal physical prodoct of fshour decresses 9. Which el the following workers would have the most elastic sepply DAl Doctors B) Shoop shearers Ci Shop assistants Di Nurses 10. A monopsonlst will amploy labour up to the polst wharo the cest of the last person eauployed Al equals their average revanus product B) is their wage. O ci equals their marginal revenus product. Di is oqual to the average cost of labour discussion questions 1. Anshyes the effect of a fall in the wage rate on the long-run demand for labour 2 Why do you thinat the propertion of employeos who srd trade unice members has been falling? )Wby may a firm pay its ishour more than necesfary to retain thom within the firm Tha wage rate a rm has to pay and tue outpt it can produce vary with the number ol workers, ss shown in the table below. (Ail figures ars hourty. Number of workers2 3 45 67 Wego rato (,(si/. 3 4 5 6 7 9 10 Tolal oatpat ITPP 1 2232 46 50 52 52 Assums that output salls at $2 par unit al Cojy the tebls and add additional rows for TC I , MC, TRP and MAP Put the figuree for MC end MRP in the spaces behwesn the columns

Explanation / Answer

3)

Following could be most possible reasons for paying higher wages:

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