The Reservation Wage of Labour Is

question 113

Multiple Choice

The reservation wage of labour is

• A)the wage below which the labourer will be willing to work.
• B)the wage above which the worker would be willing to retire.
• C)the wage rate at which the firm would find it profitable to hire labour.
• D)the wage rate that makes it necessary for the firm to shut down rather than pay this wage to labour.
• E)the wage rate above which the worker would be willing to supply labour to the market.

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Definitions:

R. H. Whittaker

A prominent ecologist who proposed a five-kingdom classification system for living organisms based on cellular structure and mode of nutrition.

DNA Sequencing

The process of determining the exact sequence of nucleotides within a DNA molecule.

Biochemical Make-Up

The unique combination of chemical compounds, including proteins, lipids, carbohydrates, and nucleic acids, that constitutes a living organism.

Cell Structure

The organization of all the components of a cell, including its membrane, cytoplasm, and genetic material, crucial for its functions.