You are a worker at a local McDonald Restaurant! How many hours you are willing to...

You are a worker at a local McDonald Restaurant! How many hours you are willing to work at a local McDonald’s at various wage rates? Provide the answer with reasoning!

Wage Differentials

If all workers were identical, if all jobs were identical, and if all information were perfect, there would be no wage differentials—all workers would earn the same wage.

The reasons for wage differences include compensating wage differentials and differences in individual productivity.

Solutions

Expert Solution

In local McDonald Restaurant worker Shifts are normally 4 -9 hours in length - and weekly hours vary from 4 to 45 dependants on the employee’s availability.

The average crew member salary at McDonald's is $9 per hour, with a range of $7 to $13; that's compared to the national average fast food crew member salary of $8.33 per hour. McDonald's cashiers, on the other hand, take home an average $8 per hour, with a range of $7 to $15. And senior lebel manager salary $141000 annually while lowest paying job at Mcdonald’s is food prep Chef at $14,000 annually.

If all workers were identical, if all jobs were identical, and if all information were perfect, there would be no wage differentials—all workers would earn the same wage. Its depend when a worker working same industry and same location even all information would be perfect.

“We know that a wage differential render to the difference in wage between people with similar skills with different localities or different industries. It can also render difference in wages between employees who have dissimilar skills within the same industry. It is generally referenced when discussing the given risk of a certain job. There are also geographical wage differentials where people with the same job may be paid different amounts based on where exactly they live and the attractiveness of the area”.

Rahul Sunny answered 3 weeks ago

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