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Eva8 [605]
1 year ago
7

as a percentage, by how much will galoshes r' us change their use of labor if wages fall by 23.4#.4% ? enter a negative percenta

ge if the firm will decrease the amount of labor that they hire.
Business
1 answer:
Luda [366]1 year ago
8 0

Galoshes increase their labor by 85.8% if there is a decrease in 37.4% in wages using elasticity of labor.

Elasticity of labor is defined as the percentage change in demand for labor to percentage change in demand for labor to percentage change in wage rate.

Elasticity of labor= % demand of labor/% change in wage rate

Let % wage decrease be x
Δ demand for labor =L
i) Galorhes R = ΔL/-Δx = -2.3
ii) Emerson R = ΔL/-ΔX= -3.2
III) Wayne= ΔL/-ΔX= 1.7
iv) Bull stearns = ΔL/-Δx= 4.6

Therefore, emerson,lake and palmer increases the amounts
Hence 2nd option
2) Galorhes R= ΔL--37.3=-2.3
                     = 37.3× 2.3
                    = 85.79%
For more information on elasticity of labor visit:
brainly.com/question/29349341
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7 0
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Dmitriy789 [7]

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7 0
2 years ago
How would you characterize Semler's early leadership Style according to the article Leadership That GetsResults? Explain?
horrorfan [7]

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3 0
3 years ago
Specialization and the division of ______ can increase productivity. Please choose the correct answer from the following choices
trasher [3.6K]

Answer:

Specialization and the division of labor can increase productivity.

Explanation:

Specialization is about an <em>invidivual</em> focusing on very specific tasks that are best suited to them according to their skills and knowledge. This concept can be applied to <em>companies</em> and <em>countries</em>, as they specialize on producing a small amount of products they excel at, for having the raw material, knowledge and/or technology to do so.

The division of labor is about breaking down the production process of a good in <em>different parts</em> performed by <em>different people</em> instead of having all workers performing all the tasks. The idea is to let workers be <em>specialists</em> in a small amout of tasks so that they can be more efficient and overall productivity can be greatly increased. This concept was introduced by the <u>'father of economics'</u> Adam Smith in his book "The Wealth of Nations" released in 1776.

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3 0
3 years ago
PLEASE HELP ASAP!! CORRECT ANSWER ONLY PLEASE!!!Type the CORRECT answer in the box.
Mariulka [41]

Answer:

105.88

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7 0
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