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Demand for labour

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Question 5

A logistics company currently employs 15 specialist heavy-goods vehicle (HGV) drivers at a daily wage rate of £120.00\pounds120.00£120.00. To recruit one additional driver, the company must raise the daily wage rate for all drivers by £4.00\pounds4.00£4.00.

What is the marginal daily cost to the company of employing this extra driver?

£4.00\pounds4.00£4.00

£124.00\pounds124.00£124.00

£184.00\pounds184.00£184.00

£1,984.00\pounds1,984.00£1,984.00

Demand for labour Questions

  1. A Level
  2. /Economics
  3. /Demand for labour