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The Firm Currently Uses 50,000 Workers To Produce 200,000 Units Of Output Per Day. The Daily Wage Per Worker Is $80, And The Price Of The Firm's Output Is $25. The Cost Of Other Variable Inputs Is $400,000 Per Day?

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Connor Sephton Profile
Connor Sephton answered
This is not true since $400,000 is the amount the firm has to pay the 50,000 workers everyday. We arrived at the answer by multiplying 50,000 workers by their daily wage of $80 each. The total is $400,000 which is the total amount due for workers' salary daily.

Many firms encounter problems when it comes to the daily wage of their employees. It's a fact that these firms pay their workers differently. There are those that pay employees in an hourly basis while there are those that pay using a fixed monthly salary. If you're someone who's earning $80 per day for 8 hours of work, then you're being paid the minimum hourly wage required by the government.

When it comes to finding a job, salary is one of the considerations to bear in mind. Materialistic as it may sound, it's a fact that many workers are very conscious of how much they earn everyday. This is only normal since people have needs such as food, clothing, and shelter which require money. You can never buy them if you aren't earning enough. Many employees receive $10 per hour while there are those who're lucky enough to earn $15 to $20 an hour. However, the rate also depends on the type of job that you have.

If you're working for a big company and you're holding an important position, rest assured you'll be getting more than $80 per day. You'll also have more benefits like leave with pay, longer vacations, health insurance, and many more. On the other hand, those who're in entry level positions have lower hourly wage. They usually earn a minimum of $10 an hour and have fewer benefits.

For someone who wants to earn more than the minimum wage, it's up to you to look for a decent job. You're also responsible for equipping yourself with the necessary knowledge and skills to be qualified for higher paying positions.

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