Exhibit 12-9

-Rick's labor supply schedule is given in Exhibit 12-9.If Rick's boss wants him to work 40 hours a week,he must offer Rick an hourly wage of:

Question

Exhibit 12-9
 
-Rick's labor supply schedule is given in Exhibit 12-9.If Rick's boss wants him to work 40 hours a week,he must offer Rick an hourly wage of:

Quizplus · Accepted Answer

According to Exhibit 12-9, at 40 hours a week, Rick's marginal utility of income is equal to his marginal disutility of work, meaning he is indifferent between working and not working. At this point, his wage rate is $20 per hour. Therefore, if Rick's boss wants him to work 40 hours a week, he must offer him an hourly wage of $20.

Exhibit 12-9 -Rick's Labor Supply Schedule Is Given in Exhibit 12-9.If Rick's