Table 311 Table 311 Shows the Number of Workers a Firm Is Willing

Table 31.1 $$\begin{array} { | r | c | c | c | } \hline \begin{array} { c } \text { Wage rate (dollars } \\\text { per hour) }\end{array} & \begin{array} { c } \text { Labor demanded } \\\text { (workers) }\end{array} & \begin{array} { c } \text { Total labor cost } \\\text { (dollars per hour) }\end{array} & \begin{array} { c } \text { Marginal } \\\text { Wage (dollars per } \\\text { worker) }\end{array} \\\hline \$ 26 & 0 & & \text { - } \\\hline 24 & 2 & & \\\hline 18 & 4 & & \\\hline 14 & 6 & & \\\hline 10 & 8 & & \\\hline\end{array}$$ Table 31.1 shows the number of workers a firm is willing to hire per hour at different wage rates.Complete the table by computing the total wage bill (total labor cost) and the marginal wage.Assume the union collects dues of 1 percent of the total wage bill.How many workers would the union want hired in Table 31.1 if its goal was to maximize the amount of dues collected?

A) 2.
B) 4.
C) 6.
D) 8.

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free