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3) Suppose that the market wage for a childcare worker is $300 per day. According to the Rational Rule for Employers that we learned in
3) Suppose that the market wage for a childcare worker is $300 per day. According to the Rational Rule for Employers that we learned in class, how many workers should Patrick hire? A) 1 B) 2 ( 3 D) 4 4) McDonald's has been promoting the "McRib Farewell Tour", encouraging customers to purchase the THE sandwich and suggesting that it may soon be MCRIB" permanently removed from the menu. This is one of FARSWELL McDonald's many recent marketing moves that have led the Wall Street Journal to claim "McDonald's is Cool TOUR Again". That article notes that Mcdonald's is seeing increased visits to its stores and increased revenue. How would we expect this to affect the wages of Mcdonald's workers? A] Wages increase because labor demand increases B] Wages increase because labor demand decreases () Wages increase because the supply curve of McRib sandwiches shifts to the right D) Wages increase because the labor supply curve shifts to the left 5) "Creator" was a hamburger restaurant opened in San Francisco In which the entire preparation of the hamburger was done by a machine. (The machine is shown above. A video of the machine in action can be found here.) If machines like the ones used at "Creator" become more common, we expect this to the wages of low-skill restaurant workers and the wages of high-skill programmers and engineers. A) Increase; Decrease Bj Increase; Increase C] Decrease; Decrease D) Decrease, Increase
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