After much negotiation with a customer, a plumber agrees to do a job for $50 an hour. In fact, the job is so unpleasant that he would not have done the job for anything less than $50 an hour even though other plumbers have done similar jobs for $40 an hour. Hiswage-related rent is

Question

Quizplus · Accepted Answer

Wage-related rent refers to the difference between what someone is paid and the minimum they would have accepted. Since the plumber would not have done the job for less than $50 an hour and is paid $50 an hour, there is no difference, hence no rent.

After Much Negotiation with a Customer, a Plumber Agrees to Do