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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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Assume the equilibrium price for a good is $10. If the market price is $5, a:_____________
stellarik [79]

Answer:

c. Shortage will cause the price to rise toward $10

Explanation:

c. Shortage will cause the price to rise toward $10

The equilibrium price is $10 this any price below the equilibrium price will create a shortage in the market because at price lower than equilibrium price, the demand is greater than the supply. Thus, shortage will push the prices upwards or towards equilibrium price.

6 0
3 years ago
Ichiro is injured in a two-car accident and sues Heather, the driver of the other vehicle, alleging negligence. Heather claims t
maks197457 [2]

Answer:

d. even if Ichiro was only slightly at fault.

Explanation:

If Ichiro is suing Heather for negligence, but he himself is found to have negiglent as well, his possibilities of winning the case are less even if he was only slightly at fault.

This is because the fact that he was negligent as well reduces his condition of victim, and makes him an active participant in the accident. In other words, if Ichiro is found negligent, it means that the accident and his subsequent injuries were also his fault.

5 0
3 years ago
Read 2 more answers
Steve is preparing a market analysis for the joneses and has selected three comparable properties. how many adjustments should s
zzz [600]

For the Joneses, Steve is putting together a market analysis and has chosen three comparable homes. Steve should Zero Adjustment alter the joneses' proper behavior in any way.

Sensors and instruments must produce an output that is a precise, predictable, and repeatable function of their input in every measurement setting. A 0 - 10 Bar pressure transmitter, for instance, might have a 0 - 10 V output that, starting with 0 V output for a 0 Bar pressure measurement, corresponds to its 0 - 10 Bar measurement range in a linear manner. To make sure that its output is indeed 0 V for a 0 Bar input, the transmitter must be calibrated. When this isn't the case, there needs to be a way to alter, or "zero," the output. The usage of an electronic gadget.

Learn more about Zero Adjustment here

brainly.com/question/5019807

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7 0
1 year ago
In an effort to save money for early retirement, an environmental engineer plans to deposit $1200 per month starting one month f
Aleks [24]

Answer:

$1,099,203.00

Explanation:

In this question we have to find out the future value that is shown in the attachment below:

Provided that

Present value = $0

Rate of interest = 8%  ÷ 2 = 4%

NPER = 25 years  × 2 = 50 years

PMT = $1,200 × 6 months = $7,200

The formula is shown below:

= -FV(Rate;NPER;PMT;PV;type)

So, after solving this, the future value is $1,099,203.00

8 0
3 years ago
Suppose that the price of sushi take-out, a substitute, decreases in price. what will happen to the demand for chinese take-out?
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<span>Suppose that the price of sushi take-out, a substitute, decreases in price. What will happen to the demand for Chinese take-out? The demand for Chinese take-out will likely decrease as a substitute is cheaper. Those we are okay with substituting one item with another are often after the price the items sell out versus exactly what the want from the item. Since they are substitutes, more people will likely get the cheaper option, Sushi take-out. </span>
8 0
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