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1 year ago

The idea that only the most efficient workers will depart in response to a wage cut is called ________.

1 answer:

3 0

The idea that only the most efficient workers will depart in response to a wage cut is called adverse selection of wage cut.

<h3>What is the adverse selection of wage cut?</h3>

The adverse selection of wage cuts argument points out that if an employer reduces the wages for all workers in poor business conditions, then the employment alternatives at other firms, are the most likely to leave.

The least attractive workers with very few employment alternatives, are more likely to stay in this condition.

Companies which are experiencing difficult times can pursue workers to take a pay cut for the short term, and still have most of the firm’s workers.

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Answer:

$3,850

Explanation:

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Using this formula

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Let Plug in the formula

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3 years ago

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Answer:

For Dan, the demand is price inelastic

Explanation:

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Price elasticity of Demand (PED)

The extent to which a change in price will cause a change in the quantity demand for a product is called the price elasticity of demand. It measures the degree of responsiveness of quantity demand to a change in price.

It is calculated as

PED =% change in quantity demand / % change in price.

For Dan Newspaper , the price elasticity of demand

= 4%/8%

= 0.5

If the PED is greater than 1, the demand is price elastic

If the PED is less than 1 , demand is price inelastic

For Dan, the demand is price inelastic

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2 years ago

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Answer:

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Explanation:

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3 years ago

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2 years ago

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Answer:

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