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. . . . . . . . is an individual firm which takes the market wage rate as given, just as the firm in a perfectly competitive product market takes the price for its output as given.

. . . . . . . . is an individual firm which takes the market wage rate as given, just as the firm in a perfectly competitive product market takes the price for its output as given. Correct Answer Wage takes

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Two stores A and B bought the same product from the company at the same price. Store A marked the price of the product 50% above its cost price and offered two successive discounts of 15% and 10% on the marked price of the product, while store B marked the price of the product 60% above its cost price and offered two successive discounts of 15% and 12% on the marked price of the product. If a customer buys the product from store B, he has to pay Rs. 986 more than that at store A. At what price the two stores bought the product from the company?
Which of the following statements is correct about Wage Boards in India?
1. A Wage Board is a tripartite body.
2. Labour and management representatives on a Wage Board can be selected from industries other than the one which is investigated.
3. Wage Boards are always statutory in nature.
4. Wage Boards work on the principle of living wage.
Which of the following statements are true/false?
1. Fair wage is above the minimum wage but below the living wage.
2. Living wage is the highest amount of wage proposed by the government.
3. Different states have fixed different minimum wages based on the skill set of the employees.
4. Fair wage works on the formula Equal Pay for Equal work.
Ram wage is 40% more than Krishna wage and Mohan wage is 62.5% of sum of Ram & Krishna wage then find Mohan wage is what % of Ram wage.
In the following question, two statements are given each followed by two conclusions I and II. You have to consider the statements to be true even if they seem to be at variance from commonly known facts. You have to decide which of the given conclusions, if any, follows from the given statements. Statement: (I) Wages are determined by minimum wage legislation in each country. (II) Increase in wage rate is the sign of growth in an economy. Conclusions: (I) Average wage rate signifies the wealth of a country. (II) Minimum wage legislation does not account wage imbalances.
In the following question, two statements are given each followed by two conclusions I and II. You have to consider the statements to be true even ifthey seem to be at variance from commonly known facts. You have to decide which of the given conclusions, if any, follows from the given statements. Statement:
(I) Wages are determined by minimum wage legislation in each country.
(II) Increase in wage rate is the sign of growth in an economy. Conclusions:
(I) Average wage rate signifies the wealth of a country.
(II) Minimum wage legislation does not account wage imbalances.
per day wage rate of workers is reduced 50% due to economic slowdown. After one year, the wage rate is increased by 60% . If the per day wage rate before the decrease was Tk. 100, then what is the per day wage rate now?
per day wage rate of workers is reduced 50% due to economic slow down. After one year ,the wage rate is increased by 60% . If the per day wage rate before the decrease was Tk.. 100, then what is the per da y wage rate Now?
Per day wage rate of workers is reduced 50% due to economic slowdown. After one year, the wage rate is increased by 60%. If the per day wage rate before the decrease was Tk 100, then what is the per day wage rate now?
Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives.
Most economists in the United States seem captivated by the spell of the free market. Consequently, nothing seems good or normal that does notaccord with the requirements of the free market. A price that is determined by the seller or, for that matter (for that matter: so far as that isconcerned), established by anyone other than the aggregate of consumers seems pernicious. Accordingly, it requires a major act of will to thinkof price-fixing (the determination of prices by the seller) as both "normal" and having a valuable economic function. In fact, price-fixing is normalin all industrialized societies because the industrial system itself provides, as an effortless consequence of its own development, the price-fixingthat it requires. Modern industrial planning requires and rewards great size. Hence, a comparatively small number of large firms will be competingfor the same group of consumers. That each large firm will act with consideration of its own needs and thus avoid selling its products for morethan its competitors charge is commonly recognized by advocates of free-market economic theories. But each large firm will also act with fullconsideration of the needs that it has in common with the other large firms competing for the same customers. Who, according to the economists, are the right group of people to set the price of a commodity?