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Levart [38]
3 years ago
9

Why might some firms voluntarily pay workers a wage above the market equilibrium

Business
1 answer:
tekilochka [14]3 years ago
6 0

Answer:

b) Paying higher wages can reduce a firm's training costs.

c) Paying higher wages encourages workers to be more productive.

d) Higher wages attract a more competent pool of workers.

Explanation:

Firms will hire more labor when the marginal revenue product of labor is greater than the wage rate, and stop hiring as soon as the two values are equal. The point at which the MRPL equals the prevailing wage rate is the labor market equilibrium.

The idea of the efficiency wage theory is that increasing wages can lead to increased labour productivity because workers feel more motivated to work with higher pay. Paying higher wages encourages workers to be more productive. Higher wages attract a more competent pool of workers. Workers stay with employers longer (instead of seeking out better-paying work with other companies) reducing businesses’ turnover, hiring, and training costs.

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If the variable costs of producing two books are $100, what is the marginal cost of producing one more book?
Ierofanga [76]

Answer:Hi Martina, okie anyway Im taking the test rn too I just answered Tanya, its $25

Explanation:

1 book= 50

2 books= 100

100-50=50

Then 50/2=25

3 0
3 years ago
Why does a govemment place price ceilings on some "essential" goods?
Maru [420]
To limit the impact of equilibrium pricing
8 0
3 years ago
Read 2 more answers
How long do you have to serve in the military to receive benefits?
Fittoniya [83]
I believe it would require one year in the military.
4 0
3 years ago
A time standard was set as 0.20 hour per unit based on the 20th unit produced. Assume the task has a 60 percent learning curve.
Sliva [168]

Answer:

40th unit = 0.11 hr

80th unit = 0.06 hr

160th unit = 0.03 hr

Explanation:

Given :

$T_{20} = 0.2$

Learning rate = 60% = 0.6 (r)

Now using the learning curve equation,

$ T_n = T_1(n)^b$

where b is  $b= \frac{\ln r}{\ln 2} = \frac{\ln 0.6}{\ln 2} $  = -0.833

Now

$ T_{20} = T_1(20)^{-0.833}$

$ 0.20 = T_1 (0.0824)$

$T_1$ = 2.5

For 40th unit

$ T_{40} = 2.5(40)^{-0.833}$

      = 0.11 hrs

For 80th unit

$ T_{80} = 2.5(80)^{-0.833}$

      = 0.06 hrs

For 160th unit

$ T_{160} = 2.5(160)^{-0.833}$

        = 0.03 hr

6 0
3 years ago
Cost ConceptOn February 3, Clairemont Repair Service extended an offer of $360,000 for land that had been priced for sale at $40
guajiro [1.7K]

Answer:

The land should be recorded in Clairemont Repair Service’s records at $380,000

Explanation:

According to the historical cost principle, the recording of the fixed assets should be recorded at the purchase price or cost price which is to be shown in the assets side under the balance sheet.

So, according to the question, on February 28, the repair service accepted the seller's counteroffer which means that the land was purchased on February 28 for $380,0000. So, by $380,000 amount, the land would be recorded.

Other costs which are mentioned in the question is ignored.

7 0
3 years ago
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