Banking System and Capital Market Questions and Answers for Competitive Exams

Q.

Which of the following statements is correct?

[A] Most workers will work for less than their reservation wage
[B] The reservation wage is the maximum amount any firm will pay for a worker
[C] Economic rent is the amount one must pay to enter a desirable labour market
[D] Economic rent is the difference between the market wage and the reservation wage

Answer & Explanation

Answer: Option [D]

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