The market wage is:

Question

The market wage is:

Quizplus · Accepted Answer

The market wage is the rental price of labour services, which means the price paid for the use of labour. It is determined by the supply and demand for labour in the market, and is affected by factors such as the productivity of labour, the availability of alternative forms of labour, and the level of demand for goods and services that require labour. It is not the purchase price of a labourer (B) as that would imply the ownership of the worker. It is also not unaffected by the stock of labour (A) as an increase in the supply of labour would tend to decrease the market wage due to increased competition among workers. Finally, it is not a payment to labour stock (D) as that is not a commonly used term in economics.

The Market Wage Is