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1 year ago

As the wage rate increases, the quantity of labor supplied by an individual worker will?

1 answer:

8 0

As the wage rate increases, the quantity of labor supplied by an individual worker will raise the quantity of labor supplied through the substitution effect.

For labor supply, the substitution effect is always positive.

It means that a higher wage rate always induces a greater quantity of labor supplied. For any worker, the substitution effect of a wage increament will always reduces the amount of leisure time consumed by him and increases the amount of time which is spent on working.

A higher wage thus produces a positive substitution effect on labor supply.

With the increase in the labor supply the supply curve for labor will move upward.

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A monopolistic competitive firm is currently charging a price of $10 and producing 12,000 units/month. It faces monthly fixed co

gizmo_the_mogwai [7]

Answer:

either the selling price decreases or the total output decreases

Explanation:

The firm's income statement:

total sales revenue = $120,000

minus total variable costs = ($72,000)

minus total fixed costs = ($15,000)

net profit = $33,000

The long run equilibrium for a monopolistically competitive firm occurs when the firm is making no economic profit since it is charging a price = average total cost.

In this case the average total cost per unit = $6 per unit + ($15,000 / 12,000 units) = $7.25 per unit

Since the firm is currently charging a higher selling price than average total cost ($10 > $7.25), one or two things might happen in the long run:

selling price will decrease
output will decrease

5 0

3 years ago

In the context of the 5S principles, _____ means to keep a process going through training, communication, and organizational str

alina1380 [7]

In the context of the 5S principles, sustain means to keep a process going through training, communication, and organizational structures.

<h3>What is 5S principles? </h3>

5s principles can be defined as the principle that help to show the appropriate way a work place or work environment should be or should be arranges .

The 5S principle are:

Sort
Set in order
Shine
Standardize
Sustain

Therefore In the context of the 5S principles, sustain means to keep a process going through training, communication, and organizational structures.

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5 0

2 years ago

Momentum Rollerblades has three product lines: D, E, and F. The following information is available:

Mila [183]

Answer:

Operating income will increase by $16,000. This is not given as one of the options.

Explanation:

The difference between the sales and variable expense gives the contribution margin. The contribution margin net the fixed cost gives the operating income or loss.

D E F

Sales revenue $90,000 $40,000 $30,000

Variable costs ($40,000) ($10,000) ($10,000)

Contribution margin $50,000 $30,000 $20,000

Fixed costs ($10,000) ($5,000) ($25,000)

Operating income (loss) $40,000 $25,000 ($5,000)

The total operating income is

= $40,000 + $25,000 + ($5,000)

= $60,000

Should the fixed costs of F be eliminated, the operating income/(loss) of F

= $21,000 - $5,000

= $16,000

This is the net increase in the total operating income.

7 0

3 years ago

When are winner-take-all markets good for consumers?

kotykmax [81]

When the value of technology utility and network externality benefits exceeds monopoly Costs.

4 0

2 years ago

Your company decides to use internal sources for developing new product ideas. Which of the following would not be a common inte

Fed [463]

Answer: (D) Suppliers

Explanation:

According to the given question, the organization using the various types of internal sources as it helps in developing the various types of new products ideas in the market.

The supplier is one of the common internal source in an organization as it helps the employees for encourage them for developing various types of new ideas and concepts.

The organization basically developing various types of new ideas by the formal research process and also through the development. Therefore, Option (D) is correct answer.

5 0

3 years ago