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expeople1 [14]
3 years ago
14

Suppose a state passes a minimum wage law that increases the minimum wage from $5/hour to $20/hour. The equilibrium wage prior t

o the minimum wage hike was $10/hour.Which of the following is likely to result from the minimum wage? a. The state will experience full employment. b. Employers will demand more labor than workers will supply. c. The labor market will become more efficient. d. Some employers and workers will agree on a wage less than $20 and not report the wages to the government.
Business
1 answer:
Margaret [11]3 years ago
3 0

Answer:

D) Some employers and workers will agree on a wage less than $20 and not report the wages to the government; black market

Explanation:

The quantity supplied of labor should increase (more people will want to work), but the quantity demanded of labor should decrease (less employers will want to hire workers). Therefore the unemployment level should increase, turning the labor market less efficient.

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A company manufactures 1,200 cylinders per day, each requiring a pressure gauge. The purchase price of the pressure gauge is $3.
Dennis_Churaev [7]

Answer:

Explanation:

Given weekly demand = 1200 units

Number of weeks per year = 45

Annual demand (D) = weekly demand × number of weeks per year = 1200 × 45 = 54,000 units

Ordering cost(C) = $55

Holding cost (H) = 25% of purchase price = 25% of $3.20 = 0.25*$3.20 = $0.8

EOQ = √(2DC/H)  = √[(2 × 54,000 × 55) / 0.8]  = √(5,940,000/0.8)  = √7,425,000  = 2,725 units

Answer is D - 2,725 units

6 0
3 years ago
Read 2 more answers
You are looking for ways to pay for your higher education costs. Which of the following options will require you to pay back any
joja [24]
The correct option is C.
Student loans that originated from the federal government are called federal students loans. This type of loan usually allows the borrower to pay lower interest and it has more flexible repayment options compare to loans from other sources. The interest rate of the loan is usually fixed over time.<span />
5 0
3 years ago
Read 2 more answers
How does the use of credit influence businesses and the economy?
Anarel [89]
A credit company will look at your history with credit and either accept you or deny you based on your credit score

i hope this helps..;)


5 0
3 years ago
Read 2 more answers
A new furnace for your small factory will cost $45,000 and a year to install, will require ongoing maintenance expenditures of $
Anna35 [415]

Answer:

a) NPV = $43,874.65

b) IRR = 24.37%

c) payback period = 5.33 years

d) equivalent annual cost = $6,024.55

e) equivalent annual savings = $13,298.61

f) since the NPV is positive, the equivalent annual savings must be higher than the equivalent annual costs

Explanation:

initial outlay year 0 = -$45,000

net savings year 1 = -$1,400 + (4,200 x $2) = $7,000

net savings year 2 = -$1,400 + (4,200 x $2.50) = $9,100

net savings year 3 = -$1,400 + (4,200 x $3) = $11,200

net savings years 4 - 20 = -$1,400 + (4,200 x $3.50) = $13,300

discount rate = 12%

using a financial calculator:

NPV = $43,874.65

IRR = 24.37%

payback period = 5.33 years

equivalent annual cost = (present value of costs x 12%) / / [1 - (1 + 12%)⁻ⁿ] =[($45,000 + $10,457.22) x 12%] / [1 - (1 + 12%)⁻ⁿ] = $6,654.87 / 0.89633 = $7,424.57

equivalent annual savings = (present value of savings x 12%) / / [1 - (1 + 12%)⁻ⁿ] = ($99,332.87 x 12%) / / [1 - (1 + 12%)⁻ⁿ] = $11,919.94 / 0.89633 = $13,298.61

4 0
3 years ago
Your firm is thinking about investing ​$200 comma 000200,000 in the overhaul of a manufacturing cell in a lean environment. Reve
Zepler [3.9K]

Answer:

EAW = -$17,545.71

Explanation:

initial investment = $200,000

cash inflows;

  • Year 1 = $33,000
  • Year 2 = $44,000
  • Year 3 = $55,000
  • Year 4 = $66,000
  • Year 5 = $77,000
  • Year 6 = $88,000
  • Year 7 = $99,000
  • Year 8 = $110,000
  • Year 9 = $132,000

cash outflows:

  • Year 1 = $20,000
  • Year 2 = $30,000
  • Year 3 = $40,000
  • Year 4 = $50,000
  • Year 5 = $60,000
  • Year 6 = $70,000
  • Year 7 = $80,000
  • Year 8 = $90,000
  • Year 9 = $100,000

EAW = equivalent annual worth = equivalent annual benefits - equivalent annual costs

to determine the EAB we must first find the PV of the cash inflows using a financial calculator = $408,348.84

EAB = (PV x r) / [1 - (1 + r)⁻ⁿ] = ($408,348.84 x 10%) / [1 - (1 + 10%)⁻⁹] = $70,905.91

to determine the EAC we must first find the PV of the cash outflows (including initial outlay) using a financial calculator = $509,395

EAC = (PV x r) / [1 - (1 + r)⁻ⁿ] = ($509,395 x 10%) / [1 - (1 + 10%)⁻⁹] = $88,451.62

EAW = $70,905.91 - $88,451.62 = -$17,545.71

5 0
3 years ago
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