Answer to Question #125528 in Microeconomics for Sahibzada Hasnain Ahmad

Question

Let a doctor earns $20 per hour, a plumber $ 5 per hour, and a professor $ 10 per hour. Everything else the same, which one will devote more hours to negotiating the price of a new car? Explain

Answer 1

A doctor earns $20 an hour,assuming all of them work 8 hours a day,in a day the doctor earns $160,assuming, assuming he works 5 days a week,he earns$ 800,in a month he will earn $24800,he will take less time negotiating,professor earns $80 a day$,400 a week therefore making $12,400 a month,plumber earns $40 a day,$200 a week,$6200 a month so the plumber will more negotiating due to his low income