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kipiarov [429]
3 years ago
13

What is one explanation for why this labor supply curve is upward sloping? the opportunity cost of leisure decreases as wages de

crease. people prefer to spend time doing leisure activities rather than working. labor production functions exhibit diminishing marginal returns. unemployment benefits are steadily declining?
Business
2 answers:
san4es73 [151]3 years ago
8 0
I believe the correct answer is the first option. The labor supply curve is upward sloping because the opportunity cost of leisure decreases as wages decrease and the opposite of such is true as well. As one work one hour more, one will have less time for other activities. As the work rate increases in value, then the opportunity cost increases as well.
Sav [38]3 years ago
8 0

Answer:

You correct answer is the fist one the labor supply curve is sloping upwards because the opportunity cost of leisure decreases as wages decline and the opposite is true as well. As you work one more hour, you will have less time for other activities.

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Under the FLSA, regular rate of pay does not include: A. vacation pay. B. severance pay. C. overtime pay. D. earned bonuses. E.
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The correct answer is A

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FLSA stands for Fair Labor Standard Act, which is defined as the act that usually requires, the covered non- exempt employees to receive the overtime pay, at least 1 and 1/2 times of their regular pay for the time they worked in excess of the 40 hours per week of the work.

The regular rate is defined as the remuneration which involves all the employment remuneration that are subject to the exclusions mentioned in the Section 7 under sub section (e) of the FLSA.

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5 0
3 years ago
Profits encourage entry into purely competitive industries and losses encourage exit from purely competitive industries because
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<u>Answer:</u>

<em>C) When profits are zero, the firm is earning sufficient revenue to cover the opportunity cost. </em>

<em></em>

<u>Explanation:</u>

When benefits are zero, the firm is gaining adequate income to cater for the open door expense. Misfortunes bring about exit and discharge assets to stream to business sectors where there are benefits. Minimal income and negligible expenses are equivalent; some other yield levels will bring about decreased interest.  

Since quite a while ago running a focused balance, a firm is winning zero financial benefits as they won't keep on delivering because it could procure a superior return in another industry. Keep on creating because such interest relates to negative bookkeeping benefits.

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