-Table 311 Shows the Number of Workers a Firm Is Willing

question 102

Multiple Choice

-Table 31.1 shows the number of workers a firm is willing to hire per hour at different wage rates.Complete the table by computing the total wage bill (total labor cost) and the marginal wage.Assume the union collects dues of 1 percent of the total wage bill.At what wage in Table 31.1 would the union maximize the amount of dues it collects?

• A)$10 per hour.
• B)$14 per hour.
• C)$18 per hour.

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Definitions:

Pay Scale

A system that determines the wage or salary based on position, experience, or education level within an organization.

Payroll Register

A document that records details about employees' pay for each pay period, including gross salary, deductions, and net salary.

Federal Income Tax

A tax levied by the IRS on the annual earnings of individuals, corporations, trusts, and other legal entities.

Quarterly Returns

Financial reports generated every three months by companies to provide insights into their financial health, performance, and operational activities.