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kompoz [17]
4 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]4 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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marishachu [46]

Country-specific, technology, and product considerations are things that multinational corporations take into account when deciding where to locate their manufacturing plants.

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Strategic choices are those that take into account the complete operating environment of the business, all of its resources, all of its employees, and the interface between these factors.

Major resource proposals are made by strategic decisions for an organization. These choices could relate to acquiring new resources, organizing current ones, or redistributing others.

The alignment of organizational resource capabilities with risks and opportunities is the subject of strategic decisions.

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3 0
2 years ago
In 2010, the average cost of a house in France is 126,000 euros. In 2018, the average cost is 154,000 euros.Using the price of t
uranmaximum [27]

Answer: D.)  1.22

Explanation:

Price in 2010 = €126,000

Price in 2018 = €154,000

Increase = 154,000/126,000

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5 0
3 years ago
Historically auditing standards have been organized into three categories, including: A) Standards of field work. B) Purpose of
zheka24 [161]

Answer:

The correct answer is letter "A": Standards of field work.

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4 0
3 years ago
The main purpose of taxes is to:
vovangra [49]
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3 years ago
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