The maximum revenue, net of the cost of capital services, of a solo self-employed with skill q is given by: (5)R∗q=1−μkθμcμ11−μq2−μ1−μA person with skill q working as an employee will earn a salary equal to (6)S=wq Minimum wage Let Smin denote the legall...
Minimum wage or NMW Is the lowest salary that workers must receive for the legal working day. On this page, you can view the NMW of the different countries, (National currency and in Dollars or Euros).
The average salary in Croatia in the first eight months this year was 6,237 kuna (about 956 U.S. dollars).
The US Bureau of Labor Statistics provides an official estimate of the share of workers paid less than the minimum but the sample is restricted to workers paid at hourly rates (58.5% of all wage and salary workers). In 2015, the share of workers paid less than the minimum in the USA ...