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If price is 840 while capitalist markup is 20%, the nominal wage is?

If price is 840 while capitalist markup is 20%, the nominal wage is?

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Answer #1

Here th price is 840 and the capitalist mark up value is 20% it mens the value of the price is already increased by the 20% therefore the nominal wage can be calculated as follows.

Nominal wage = 840 = 120%

840 × 100 /120

7×100

= 700

So here the nominal wage is 700

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