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Sauron [17]
1 year ago
9

Suppose that the market for labor is initially in equilibrium. If the firm employs labor-saving technology, the equilibrium wage

Business
1 answer:
ZanzabumX [31]1 year ago
3 0

Suppose that the market for labor is initially in equilibrium. If the firm employs labor-saving technology, the equilibrium wage and the quantity of labor will both rise.

<h3>How do you calculate labor market equilibrium?</h3>

The labor market is in equilibrium when supply equals demand; E* workers are employed at a wage of w*.

In equilibrium, all persons who are looking for work at the going wage can find a job.

<h3>What is equilibrium wage rate?</h3>

The equilibrium market wage rate is at the intersection of the supply and demand for labor.

Employees are hired up to the point where the extra cost of hiring an employee is equal to the extra sales revenue from selling their output.

Learn more about equilibrium here:

<h3>brainly.com/question/19472121</h3>

<h3>#SPJ4</h3>
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Name and discuss some positive communication skills that workers must display in the work environment.
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Which theory suggests that workers with more education earn higher wages because the extra schooling has given them additional s
san4es73 [151]

Answer:

The human capital theory

Explanation

The human capital theory explores the relationship between investment in human capital and earnings.

Investment in human capital can take the form of education or training.

The theory suggest that those that invest in human capital earn higher income

The human capital theory also explores pattern of earnings. The theory suggests that the earnings of young people would be low as they would forgo earnings to invest in human capital . Earnings would increase as one gets older because old people invest less in education and training

7 0
3 years ago
Which of these statements about a business plan is true?
ioda

Answer:

<em />

  • <u><em>C. A business plan is a business’s roadmap for the future.</em></u>

Explanation:

A <em>business plan</em> states formally the goals of the company; it shows the tasks that must be performed to reach those big goals and shows the financlal ways that could or should be used to accomplish the goals.

The business plan permits to understand how the business work and, thus, gives the basis for future actions. It is a tool of organization, direction, and communication, and the basis to develop a financial plan. In brief words: what the company wants to do and how it inteds do it.

<em>A. Businesses do not need to document a business plan.</em>

FALSE.

The business plan must be formal, not just an idea or view in the mind of the owners or managers, as such it must be documented.

<em>B. Established businesses do not create a business plan.</em>

FALSE.

Business plans change with time. As much as starting business, established business must periodically review the conditions and goals and update, or even importantly change the business plan.

<em>C. A business plan is a business’s roadmap for the future.</em>

TRUE.

Business plan gives direction, the ways to reach the goals, the tasks to be performed.

<em>D. A business plan guarantees a business’s success.</em>

<em />

FALSE.

Success is never guaranteed. Risk is intrinsic to all the human activities. Complexity of human interactions and changing circumstances do not permit to guarantee that a plan guarantees the success. That is why business plans must be revised and ajusted or changed to adapt the goals and the actions to be the most sucessfull possible, but without guarantees.

6 0
3 years ago
Fill in the blank.... 10 PTS !!!
WITCHER [35]

She can use images to show the team the the products they plan to launch.

She can also add a graph to show where these products will be most popular.

4 0
3 years ago
Bellingham Company produced 2,500 units of product that required 6 standard direct labor hours per unit. The standard variable o
VMariaS [17]

Answer: -$2,350

Explanation:

First we will calculate the labour costs of the product as,

Standard labour overheads required,

= 2,500*6

= $15,000

Using the above figure we will then calculate the Standard Overhead Cost as,

Standard overhead cost

= 4.9* 15,000 hours

= $73,500

But the Actual overhead cost = $71,150

The Variance is calculated as,

= standard overhead cost - actual overhead cost

= 73,500 - 71,150

= $2,350 Favorable.

= -$2,350

If you need any clarification do react or comment.

3 0
3 years ago
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