Economics of Labor Markets. Question on Wage rate vs labor productivity trade-off . Any Help is appr Show more Economics of Labor Markets. Question on Wage rate vs labor productivity trade-off . Any Help is appreciated please show all steps and calculations used. Thanks!! The manufacturing labor compensation rate vs labor productivity trade-off: Consider the production of a relatively labor intensive good Q in countries with different hourly compensation rates. What would labor productivity need to be (realative to the US) to make management indifferent between producing Q in the U.S. when MCq=($35/MPl) vs producing in Germany at $44/hr or in China at $1.75/hr? What is one additional important factor to consider? Show less
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