Wages are the opportunity cost of leisure
Wages are the opportunity cost of leisure. The higher the wage rate, the more hours of leisure a worker will forego and the more hours of labour he will supply.
Random thoughts about random subjects… From science to literature and between manga and watercolours, passing by data science and rugby; including film, physics and fiction, programming, pictures and puns.
Random thoughts about random subjects… From science to literature and between manga and watercolours, passing by data science and rugby; including film, physics and fiction, programming, pictures and puns.
Wages are the opportunity cost of leisure. The higher the wage rate, the more hours of leisure a worker will forego and the more hours of labour he will supply.
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