If the wage rate is $20 then, Stephania does demand: 5 workers.
The wage rate, which is defined as the pay strategy for any individual or group of employees, determines both the expense and the revenue of human resources. Wage rates are determined by the quantity produced or the number of hours worked, to put it simply. For instance, commissions for sales people are determined by the volume of sales they generate. On the other hand, hourly workers get compensated a set sum for each hour that they are at work.
There are several ways to pay employees. The overall salary rate for employees includes the following salaries as well as any bonuses, promotions, or even cafeteria plans. The compensation rate that a worker accepts does not strictly include fringe perks like a corporate car or free goods.
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