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An Employer Has Work That Can Be Done in the Same

question 159

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An employer has work that can be done in the same time by one high-skilled worker paid $50 an hour or by eight low-skilled workers paid $5 an hour each and the minimum wage is $7.25 an hour. In this scenario, who benefits from the minimum wage, the high-skilled worker or the low-skilled workers? (Hint: Who would you hire for the job?)


Definitions:

Articles Of Incorporation

Legal documents filed with a government body to legally document the creation of a corporation.

Indenture Contract

A formal legal agreement, bond, or document specifying the terms and conditions between parties, often used in finance for bonds or loans.

Bylaws

Written rules and regulations that dictate how an organization or entity is governed and operated.

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