Question
I need help with the following questions 1- what is the reservation wage of the worker, or the minimum wage he would be willing to
I need help with the following questions
1- what is the reservation wage of the worker, or the minimum wage he would be willing to accept
2- The profit maximizing-wage of ___ an hour leads the worker to put in ___ effort.
$12; 0.3
$12; 0.6
$18; 0.45
$18; 0.6
$32; 0.8
3- Suppose that the worker's disutility of effort is equivalent to $4 an hour and that they would receive an unemployment benefit of $10 an hour if they were fired. What is the worker's hourly employment rent at the profit-maximizing wage
4- Suppose the worker works 40 hours a week and that it would take them 4 weeks to find an identical job if they were fired. What is the worker's employment rentat the profit-maximizing wage
5- Which of the following would shift the worker's best response curve down or to the right?
An increase in the wage offered by the employer.
An increase in the unemployment rate.
An increase in the worker's reservation wage.
A decrease in the unemployment benefit.
A decrease in the disutility of work.
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