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kow [346]
3 years ago
8

Consider two occupations (A and B) in which people have the same skills and abilities. When employed, workers in the two occupat

ions work the same number of hours per day. In occupation A, employment is stable throughout the year, while employment in occupation B is characterized by seasonal layoffs.
The hourly wage will be higher in occupation ___.
Business
1 answer:
Crank3 years ago
8 0

Answer: The hourly wage will be higher in occupation B.

Explanation:

From the information given in the question, workers in occupations A and B possess the same skills and abilities as work for the same number of hours. The difference between both occupations is that there is stability of employment for workers in occupation A while there are seasonal layoffs in occupation B.

Due to the seasonal changes in occupation B, the hourly wage will be higher in occupation B. Workers in occupation B need to be compensated in order to overcome the layoffs and uncertainties.

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Why should you always consider the opportunity cost when making a significant purchase?
vladimir2022 [97]

You should always ponder the opportunity cost when making a important purchase to make sure you choose making a payment that would be most beneficial for you. Opportunity Cost refers to the financial opportunity that is given up because you choose to do something else with your money

8 0
3 years ago
At the beginning of Year 1, a company reported a balance in common stock of $164,000 and a balance in retained earnings of $64,0
blagie [28]

Answer:

Explanation:

The preparation of the statement of stockholder equity and balance sheet is presented below:

a. Statement of stockholder equity

<u>Particulars            Common stock         Retained earnings      Total stock equity</u>

Beg balance        $150000                   $50,000                      $200,000

Add: Addi shares  $40,000                                                       $40,000

Add: Net income                                    $30,000                     $30,000

Less: dividend                                         -$10000                     -$10000

Total                     $190,000                 $70,000                    $260,000

b. Balance sheet

Assets                          Amount                    

Cash                               $52,600                  

Supplies                         $13,400                

Prepaid rent                   $24,000                    

Land                               $200,000    

Total assets                   $290,000          

Liabilities       Amount

Account payable $9,100

Un-earned revenue $2,400

Salaries payable $3,500

Notes payable      $15,000

 Stockholder equity $260,000

Total liabilities & stockholder equity $290,000

6 0
3 years ago
It is better to evaluate economic decisions at the marginal, where the decision has to be made as long as its marginal benefit e
Wittaler [7]

Answer: True

Explanation:

Marginal benefit is the maximum amount that a consumer will be willing to pay for an extra product. It should be known that as consumption rises, the marginal benefit starts reducing.

The marginal cost is the extra cost that a producer incurs when an extra unit of a product is made. Economic decisions made by economic agents are typically based on marginal as it'll be possible to know the impact of an extra decision made on a variable.

Therefore, it is better to evaluate economic decisions at the marginal, where the decision has to be made as long as its marginal benefit exceeds its marginal cost, if not equal to its marginal cost.

4 0
3 years ago
Assume for Guatemala that the domestic price of coffee without international trade is higher than the world price of coffee. Thi
Marina CMI [18]

Answer:

other countries have a comparative advantage over Guatemala in the production of coffee, and Guatemala will import coffee. 

Explanation:

This question is incomplete. Please check the attached image for a complete question.

A country has comparative advantage in the production of a good or service If it produces the good or service at a lower opportunity cost when compared to its trading partners.

The price of Guatemala's coffee is higher when compared to the world price of coffee without international trade. It shows that Guatemala doesn't have a comparative advantage in the production of coffee. Guatemala should stop producing coffee and import instead. This would enable Guatemala focus more resocurces on the production of good for which it has comparative advantage.

I hope my answer helps you

3 0
3 years ago
When is it not necessary to build a new market supply schedule?
ss7ja [257]
<span>It is not necessary to build a new market supply schedule </span><span>when there is a change in the price of a good
</span>
5 0
3 years ago
Read 2 more answers
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