Answer: Economic Surplus : $12
Explanation: Economic surplus is the difference between benefit and cost.
In this case, since he is working as a math tutor, he will get $45, there is no other cost. But if he goes for a movie, he will have to spend $12 on movie, which is the cost he needs to bear. The economic surplus is $12 which is not spent on the movie and worked as a math tutor.
Option C
An increase in the real wage would result in a: movement along the labor demand curve, causing a decrease in the number of workers hired by the firm.
<u>Explanation:</u>
The wage rate is circumscribed by the crossing of supply and demand for labor. The demand curve depends on the marginal product of labor and the cost of the good labor originates.
A variation in the wage or payroll will end in a shift in the amount necessitated of labor. If the wage rate increases, organizations will require to hire fewer employees. The quantity of labor demanded will decline, and there will be a movement skyward on the demand curve.
Answer:
True
Explanation:
When machine is purchased, then the assets increase by the carrying or purchase value of the machine purchased. Here, it is of $1 million.
Further, when it is purchased as against any credit, it creates a liability with the same amount.
Since here also the liability amount = $1 million, it will be recorded with the same.
As there is no involvement of Equity or Retained earnings this do not lay any impact on carrying value of owners equity.
Thus, it is True.
Explanation:
Financial health of the company.
Company's brand value.
Work culture and environment.
wages and salary ofc
