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4 years ago

If Jeff's wage rate rises, he decides to work more hours. From this, we can infer that____________.

Business

1 answer:

marshall27 [118]4 years ago

3 0

Answer:

If Jeff's wage rate rises, he decides to work more hours. From this, we can infer that for Jeff, the substitution effect is greater than the income effect - option C.

Explanation:

The substitution effect is stronger than the income effect in a case whereby the supply of labor increases as the wage rate increases .

On the other hand, when the supply of labor decreases as the wage rate increases, then the income effect is stronger than the substitution effect.

With regards to the scenario given in the question - with an increase in the wage rate, Jeff has decided to work more hours.

Thus, in the given case, it can be inferred that for Jeff, the substitution effect is greater than the income effect.

Therefore, the correct answer is option C.

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In which 3 cases would you use the "Add funds to this deposit" grid in a Bank deposit in qbo

Lapatulllka [165]

Based on accounting operation analysis, the 3 cases where one can use the "Add funds to this deposit" grid in a Bank deposit in QBO include "When a company doesn't need to record sales details."

The other cases where one can use the "Add funds to this deposit" grid in a Bank deposit in QBO include the following:

When an employee reimburses the company
When you receive a tax refund from the IRS

QBO is the acronym for QuickBooks Online Accounting Software. Business firms use it to monitor expenses, coordinate cash flow & establish invoices.

Hence, in this case, it is concluded that QuickBooks Online is a vital tool to possess by any business firm.

Learn more about QuickBooks Online here: brainly.com/question/25795288

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3 years ago

When the temperature rises in the summer, the rates of violent crimes increase. this is best explained in terms of the _____ pri

Arlecino [84]

This is best explained in terms of the frustration-aggression principle, or the principle that when a person's frustration goes up, in this case because of the rise in temperature, their aggression also goes up leading to an uptick in crime during the summer months.

3 0

3 years ago

During its most recent fiscal year, Raphael Enterprises sold 350,000 electric screwdrivers at a price of $19.50 each. Fixed cost

Reil [10]

Answer:

the variable cost is $4,025,000

Explanation:

The computation of the variable cost is as follows:

Given that

Sales units = 350,000 units.

Sale Price = $19.50.

Fixed cost = $1,225,000.

Pre tax income = $1,575,000

Based on the above information

Sale Value is

= 350,000 units × $19.50

= $6,825,000.00

Now

Contribution Margin is

= Sales - Fixed cost

= $6,825,000 - $1,225,000

= $5,600,000

And,

Variable Cost is

= Contribution margin - Pretax income

= $5,600,000 - 1,575,000

= $4,025,000

hence, the variable cost is $4,025,000

3 0

4 years ago

What is the main massager this cartoon delivers?

rjkz [21]

What cartoon? I can try to help

5 0

3 years ago

Read 2 more answers

An economy produces only 1,000,000 computers valued at $2,000 each. Of these, 200,000 are sold to consumers, 300,000 are sold to

MA_775_DIABLO [31]

Answer:

$2.0 billion

Explanation:

The Gross Domestic Product is the monetary value of all goods and services that is produced within the boundary of a country in a specific time.

The formula for GDP is

GDP= consumption + government spending + investment + (export - import)

200,000 are sold to consumers

300,000 are sold to businesses

300,000 are sold to the government

100,000 are sold abroad (exported)

100,000 is kept as inventory

GDP= {200,000 + 300,000+ 300,000+ 100,000+ (100,000- 0)}* $2,000

GDP= 1,000,000*2000

GDP= $2 billion

4 0

3 years ago