Answer to Question #192724 in Economics for Zukile

Question

1.24 Reservation wage represents

[1] An inferior payment.

[2] A normal payment.

[3] The wage below which the worker would refuse to accept employment.

[4] An individual worker is willing to accept employment.

[5] A worker being prepared to accept employment and moonlight

Answer 1

[3] The wage below which the worker would refuse to accept employment.