A firm hires two workers to assemble bicycles. The firm values each assembly at $12. Charlie's marginal
Question:
(a) If the firm pays piece rates, what will be each worker's hourly wage?
(b) Suppose the firm pays a time rate of $15 per hour and fires any worker who does not assemble at least 1.5 bicycles per hour. How many bicycles will each worker assemble in an 8 hour day?
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a As the firm values each assembly at 12 it will pay 12 for 1 asse...View the full answer
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