A firm can hire 20 workers for $10 per hour, but finds it must raise the...

A firm can hire 20 workers for $10 per hour, but finds it must raise the wage to $12 to attract another worker. If it must pay all its workers the same wage, the marginal wage cost of the 21st worker is _.

A.$10.
B. $11.
C. $21.
D. $31.

Expert Solution

Correct Answer: D] $31

Explanation:

A firm can hire 20 workers for $10 per hour, the marginal wage cost of the 21st worker is 21 + 10 = $31

Rahul Sunny answered 2 years ago

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