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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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JDS Foods’ projected benefit obligation, accumulated benefit obligation, and plan assets were $65 million, $55 million, and $37
Kitty [74]

Answer:

a) $28 Million

b) -$24 Million

Explanation:

The first part of the question is to determine the pension liability tht should be reported in the balance sheet

To do this, we use the following formula

Projected Benefit Obligation - The Plan Assets

= $65 million - $37 Million = $28 Million

Part B) This part says to dettermine the amount JDS would report if the planned asset increase to $89 million

The formula Projected Benefit Obligation - The Plan Assets  still should be used but there is a difference as follows

$65 million - $89 Million = -$24 Million

6 0
3 years ago
Which of the following would NOT cause a shift in supply? A. changes in the price of inputs B. changes in the price of other goo
adell [148]

Answer:

C.

Explanation:

<em>The correct answer would be changes in consumer input.</em>

The supply of a good can be influenced by changes in the price of inputs for that goods, changes in the price of substitute goods, as well as changes in technology that positively or negatively affect the production of such goods.

What will not affect the supply of any good is changes to consumer's input. An input generally referred to a substance that is required to produce an output. Unless the consumer of a good is also the producer of that good, a consumer's input will not impact the supply of a product.

The correct option is C.

4 0
3 years ago
The following information was drawn from the Year 1 accounting records of Ozark Merchandisers: Inventory that had cost $15,000 w
finlep [7]

Answer: See explanation

Explanation:

a. Sales = $27000

Less: sales returned = -$660

Less: discount at 2% = ($27000 - $660) × 2% = -$526.8

Net sales = $25813.2

b. Net sales = $25813.2

Less: cost of goods sold = $15000 - $400 = -$14600

Gross profit = $11213.2

Operating expense:

Less: Selling and administrative expenses = -$2835

Operating income = $8378.2

Non-operating items:

Less: Interest expense = ($200

Add: Gain on land Sales = $900

Net Income= $9078.2

c. The interest expense be shown on the statement of cash flows in the operating expenses section. It'll be recorded in the operating activities.

d. The sale of the land would be under the investing activity as it's capital asset of the business. Therefore, the full sales price of the land, $9,250, would be shown as a cash inflow from investing activities on the statement of cash flows.

Option B is the correct answer.

4 0
3 years ago
Penny buys 3 bouquets of flowers for $3 each and 4 bouquets for $2 each. which expression gives the total cost of the bouquets t
Elis [28]

The correct answer is 3³+ 4×2

Lets, calculate the total cost of the boquets of flowers that penny buys,

Penny buys 3 boquets of flowers, for 3$ each so, the total cost is given by,

3×3 = 33$

Penny buys 4boquets of 2$ each.

So, the total cost of the boquets of the flowers that worth 2$ each is given by,

(4×2 )

So, the total costs of the boquets of flowers that penny buys is given by,

3³+42.

Total cost is defined as the total expense by the individual or a company added to the variable costs occur. Total cost help the businesses to calculate their profits and loss and maintain their sales data.

The terms fixed costs, total fixed costs, and variable costs have a similar sound, there are important distinctions among the three. The primary difference is that whereas variable costs and total fixed costs are heavily over dependent on the quantity of goods or services a company produces, fixed costs do not take that quantity into account.

To learn more about fixed cost, refer this link

brainly.com/question/27328807

#SPJ4

4 0
1 year ago
In addition to the owner, how many employees can a sole proprietorship have?
Vlad [161]

Answer:

A sole proprietorship is a business owned by only one person. The most common form of ownership, it accounts for about 72 percent of all U.S. businesses[1]. It’s the easiest and cheapest type of business to form: if you’re using your own name as the name of your business, you just need a license to get started, and once you’re in business, you’re subject to few government regulations.

As sole owner, you have complete control over your business. You make all important decisions, and you’re generally responsible for all day-to-day activities. In exchange for assuming all this responsibility, you get all the income earned by the business. Profits earned are taxed as personal income, so you don’t have to pay any special federal and state income taxes.

Explanation:

5 0
3 years ago
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