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kompoz [17]
3 years ago
6

Consider the market for dog walkers that is currently in equilibrium. If the government institutes a minimum wage that is below

the market wage, what will be the consequence for dog walkers? Select the correct answer below: A.there will be a shortage of dog walkers B.there will be a surplus of dog walkers C.the wage in the market will be unaffected D.not enough information is provided
Business
1 answer:
olga nikolaevna [1]3 years ago
8 0

Answer:

C.the wage in the market will be unaffected

Explanation:

Market for 'Dog Walkers' is a case of 'Labour market'. In Labour markets, employees are sellers & firms buyers of the labour skills.

  • Firm's labour demand curve is downward sloping due to inverse relationship between price (wages) & labour demanded
  • Employees labour supply curve is upward sloping due to positive relationship between price (wages) & labour supplied
  • Equilibrium wages are where Market Demand for labour = Market supply of labour.
  • Price (Wage) Floor is the minimum mandated wage by government, below which wages are not allowed to be kept.

Government imposition of minimum wage (base price) below the market wage is not a binding price floor, as it causes no change in the equilibrium wage, since equilibrium age rate is already above the government laid down price floor.

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Answer:

The correct answer is letter "B": A listing of components, their descriptions, and the quantities of each required to make one unit of a product.

Explanation:

A Bill of Material (BOM) in Materials Requirement Planning (MRP) relates the final product with the raw materials, assemblies, parts, and components necessary to manufacture a unit of that good. The BOM is a document that itemizes all the resources necessary to produce a good including at the top the product itself and a listing in hierarchical orders from components to individual materials.  

Creating an accurate BOM helps to have all the material necessary for production available.

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The spread or difference that results when product price exceeds average total cost determines
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Vaughn Manufacturing has the following items at year-end:
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Answer:

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Explanation:

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