Which of the Following Statements is Correct ?

  1. Most worker will work for less then their reservation wages
  2. The reservation wages is the maximum amount any firm will pay for a worker .
  3. Economic rent is the difference between the market wages ant the reservation wages.
  4. Economic rent is the amount one must pay to enter a desirable labour market .

 

Manish Listener Asked on 16th October 2015 in General Knowledge.
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1 Answer(s)

Economic rent is the difference between the market wages and the reservation wages.

Monis Rasool Professor Answered on 20th October 2015.
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