You have the following wage band Housekeeper $ 11-12 The band is increased by 5% What are the new wage rates for the following: Housekeeper A 11.10 Housekeeper B 11.45 Housekeeper C 11.80 New Wage Rate = (Old Wage Rate X Raise %) + Old Wage Rate

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter4: Extent (how Much) Decisions
Section: Chapter Questions
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  1. You have the following wage band

 

Housekeeper    $  11-12

               

The band is increased by 5%

 

What are the new wage rates for the following: 

 

Housekeeper  A       11.10

Housekeeper  B        11.45

Housekeeper  C         11.80

New Wage Rate = (Old Wage Rate X Raise %) + Old Wage Rate



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WHEN THE BAND CHANGES, THE EMPLOYEE DOES NOT CHANGE UNLESS HIS RATE NOW FALLS BELOW THE NEW MINIMUM

  1. You have the following wage band

 

Housekeeper    $  11-12

               

The band is increased by 5%

 

What are the new wage rates for the following: 

 

Housekeeper  A       11.10

Housekeeper  B        11.45

Housekeeper  C         11.80

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