Give typing answer with explanation and conclusion A new law requires companies to pay a 40% premium on the wage rate for employees working time beyond 8 hours within a day. If an employer currently pays its workers $30 per hour for a 12-hour workday, what hourly wage should the employer offer so that the total pay for a 12-hour workday stays the same as before?
Give typing answer with explanation and conclusion A new law requires companies to pay a 40% premium on the wage rate for employees working time beyond 8 hours within a day. If an employer currently pays its workers $30 per hour for a 12-hour workday, what hourly wage should the employer offer so that the total pay for a 12-hour workday stays the same as before?
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter24: Price-searcher Markets With High Entry Barriers
Section: Chapter Questions
Problem 12CQ
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Give typing answer with explanation and conclusion
A new law requires companies to pay a 40% premium on the wage rate for employees working time beyond 8 hours within a day. If an employer currently pays its workers $30 per hour for a 12-hour workday, what hourly wage should the employer offer so that the total pay for a 12-hour workday stays the same as before?
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