Question

Your next door neighbor offers to pay you to babysit. She offers you $7 an hour. You turn down the offer as you think you need at least $8 per hour. What is

your reservation wage? (1 point)
O It depends on what state you live in.
O $7.25 Reservation wage is the same as minimum wage
O $7
O $8

Answer 1

$8

Step-by-step explanation:

In labor economics, the reservation wage is the lowest wage at which a worker would be willing to accept a job.

The problem says that you need at least $8 / hr.

So that's your reservation wage.

It's nothing to do with the state, it's not the minimum wage either. It's just the least you're willing to accept, which for this problem, is $8/hr

Answer 2

Answer:7.25

Step-by-step explanation:

smart