Assume that you take a job with flexible hours, but initially your salary was based on a 40-hour week. Your salary begins at $15 an hour, or $30,000 per year. Assuming your salary rises, at what salary (hourly wage) would you begin to work fewer than 40 hours a week> Remember the job permits flexible hours Now if your rich uncle dies and leaves you $500,000, would this alter the wage rate at which you cut your work hours? Would the wage rate change if you have children?

Assume that you take a job with flexible hours, but initially your salary was based on a 40-hour week. Your salary begins at $15 an hour, or $30,000 per year. Assuming your salary rises, at what salary (hourly wage) would you begin to work fewer than 40 hours a week> Remember the job permits flexible hours Now if your rich uncle dies and leaves you $500,000, would this alter the wage rate at which you cut your work hours? Would the wage rate change if you have children?

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter16: Labor Markets

Section: Chapter Questions

Problem 16.1P

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