1) The percentage of the labor force that belongs to a union is known as the UNIONIZED PERCENTAGE RATIO.
2) The equilibrium wage rate is determined by the point of intersection of labor market supply and labor market demand. Equilibrium wage is the wage where the company agrees to pay and the worker agrees as the value of his work.
3) The effect of union exclusion of nonunion workers is to lower the wages of nonunion workers.
4) A market with one buyer and one seller is a bilateral monopoly. Monopoly is a market with only one seller. Monopsony is a market with only one buyer.
Answer:
383,000
Explanation:
Calculation to determine How many units were transferred to the next processing department during the month
Work in process, beginning 83,000
Add Units started into production during the month 334,000
Less Work in process, ending (34,000)
Units completed and transferred out during the month 383,000
(+83,000+334,000-34,000)
Therefore How many units were transferred to the next processing department during the month is 383,000
Answer:
The statement is: True.
Explanation:
A competitive advantage is an advantage an individual, organization or country has over its competitors. That competitive advantage can be a comparative advantage when the entity has found a way to implement lower opportunity costs in its production process or a differential advantage if the firm provides a product or service with a unique feature difficult to replicate by competitors.
Answer:
The correct answer is letter "D": Judy, an expert horse trainer, sells Bob a horse.
Explanation:
According to the Uniform Commercial Code (<em>UCC</em>) a <em>merchant </em>is a person who deals with a product or service of a business in which that person is regularly engaged. The <em>merchant </em>has knowledge and expertise related to the practices involved in the business transaction.
In that sense, only Judy, who is a horse trainer, would be labeled as a <em>merchant </em>by the UCC for selling a horse.
