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October 25, 2014

Homework Help: Economics

Posted by Kayla on Monday, February 26, 2007 at 7:23pm.

Suppose George is makeing $18 an hour installing electronic chips in handheld computers. Would your offer to work for $8 an hour get you the job? Why might a profit-maximizing employer turn down your offer?

This is a bit of an open ended question. My offer to undercut george by working for $8 per hour would not likely get me the job as I know nothing about installing electronic chips. And even if I did, I would not stay at the job at that rate for very long (if I was honest to myself and the employer).

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