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There is a great deal of talk about a "living wage" and many advocate a mandatory...

There is a great deal of talk about a "living wage" and many advocate a mandatory payment of such a wage by employers to their workers. The book says that a worker's "benefit" to the firm is dependent upon product demand and worker productivity. Can a "living wage" be reconciled to these two variables?

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It can be mentioned that the living wage can be reconciled to this variables as the demand of a product affect the prices and with this you can say whether the living wage is sufficient or not and also more the productivity, less would be the price at a constant cost. This is the reason why even with less living wages, it is if these two variables are on a positive side then the living wages would be enough to meet the needs then hai living wages with these two variables on the negative side and that is the reason why the living wage can be reconciled into two variables

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