aletadaboss
07.04.2020 •
Business
Suppose the marginal benefit the owner of a cherry orchard derives from hiring Lauren to pick cherries is $8 per hour. If the wage rate that Lauren earns is $7 per hour, then the orchard owner's surplus from Lauren's labor is per hour.
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Ответ:
The orchard owner's surplus from Lauren's labor is $1 per hour.
The orchid owner's surplus is the excess of marginal benefit over the marginal cost of labour.
Marginal benefit is the change in benefit as output increases by 1 unit. Marginal cost of labour is the change in the total cost of labour as hours worked increases by an hour.
Surplus = Marginal benefit - Marginal cost
$8 - $7 = $1
To learn more about surplus, please check: link
Ответ:
$1 per hour
Explanation:
Data provided in the question
Lauren pick cherries per hour for $8 per hour
And, the wage rate that Lauren earns is $7 per hour
So, the surplus made from Lauren's labor per hour is
= Lauren pick cherries per hour - Wage rate that Lauren earns
= $8 per hour - $7 per hour
= $1 per hour
Simply we deduct the wage rate from the cherries per hour so that the surplus per hour could come
Ответ:
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