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30 August, 22:19

The asking wage is also known as the "reservation wage" - or the wage rate at which unionized workers are able to find gainful employment in a competitive labor market.

A. TRUE

B. FALSE

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  1. 30 August, 22:43
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    B) FALSE

    Explanation:

    The reservation wage is the lowest wage at which an individual would accept to do a specific type of job.

    While the asking wage is the wage level at which an individual will accept or reject any job offer.

    The main difference between a reservation wage and an asking wage is that the reservation wage may vary depending on how much an individual likes or dislikes a certain job. For example, if a person dislikes working at night shifts, then the reservation wage for jobs requiring night shifts will be higher than jobs done during regular working hours.
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