An unemployed salesperson has been offered a job paying Rs500 a week. He turns that job down and continues to search for another job that pays more. The cost of this continued search is ?

Rs difference between the weekly salary he finally accepts and the Rs500 weekly salary that he has forgone

the Rs500 weekly salary that he has forgone to search for another job

The Rs500 weekly salary that he has forgone and the monetary costs incurred by continuing to search

Rs0, since he is currently unemployed

An unemployed salesperson has been offered a job paying Rs500 a week.

1.	An unemployed salesperson has been offered a job paying Rs500 a week. He turns that job down and continues to search for another job that pays more. The cost of this continued search is ?
A.	the Rs500 weekly salary that he has forgone to search for another job
B.	The Rs500 weekly salary that he has forgone and the monetary costs incurred by continuing to search
C.	Rs difference between the weekly salary he finally accepts and the Rs500 weekly salary that he has forgone
D.	Rs0, since he is currently unemployed
Answer» C. Rs difference between the weekly salary he finally accepts and the Rs500 weekly salary that he has forgone

Discussion

No Comment Found

Related MCQs

Rawls’s miximin criterion does not mean that there should be redistribution so as to equalise everyone’s incomes in society because ?
Naila owns a small pottery factory. She can make 1000 pieces of pottery per year and sell them for Rs 100 each. It costs Naila Rs 20,000 for the raw materials to produce the 1,000 pieces of pottery She has invested Rs100,000 in her factory and equipment: Rs50,000 from her savings and Rs50,000 borrowed at 10 per cent. (Assume that she could have loaned her money out at 10 her per cent, too) Naila can work at a competing pottery factory for Rs40,000 per year. The economics profit at Naila’s pottery factory is ?
An increase in the minimum wage will cause a relatively large increase in unemployment among ?
Which of the following issues is related to microeconomics ?
Suppose two economists are arguing about policies that deal with unemployment. One economist says. The government could lower unemployment by one percentage point if it would just increase government spending by 50 billion dollars the other economist responds Nonsense and poppycock! If the government spent an additional 50 billion dollars it would reduce unemployment by only one tenth of one percent. and that effect would only be temporary! These economists ?
Unemployment benefits may increase the unemployment rate because unemployment benefits ?
If a production function exhibits diminishing marginal product. its slope ?
When marginal costs are below average total costs ?
If as the quantity produced increase a production function first exhibits increasing marginal product and later diminishing marginal product, the corresponding marginal-cost curve will ?
New technology in the form of computer spreadsheets has increased the productivity of accountants. This will cause ?

An unemployed salesperson has been offered a job paying Rs500 a week. He turns that job down and continues to search for another job that pays more. The cost of this continued search is ?

Discussion

No Comment Found

Related MCQs

Reply to Comment