The market structure of the producer will be described as ''Perfect Competition".
As in perfect competition, there are homogenous goods or products from different sellers involved in the market. While monopoly completion also involves many sellers but the products in the market are differentiated (non-homogenous).
Undifferentiated or homogenous goods are less effective on the market as there are too many sellers in the market. Due to that in the above condition a producer is producing the respective goods on a smaller level.
So, he will not affect the market and this clearly shows that the market is perfectly competitive by structure.
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Answer:
budget software
spreadsheet
Mint©
Mvelopes®
Explanation:
The spreadsheet is also the same as Excel. It used to organize and analyze expenses and identify how your expenses can be reduced
Mint© is an online expensive tracking device, that can be used to track credit score and manage expenses.
Budget software is budgeting and expensive tracking device. It can be used to track credits cards and bank account
Mvelopes® is an online expensive tracking device that is used in taking care of the budget.
Answer:
The board most likely will not be held responsible.
Explanation:
The board of directors can legally defend themselves based on the Business Judgement Rule. This rule in contained in the <u>Corporations Act of 2001 - Section 180.</u> It states that any decision made in regards to the business operations should be:
- In good faith and not based on personal gain
- In the best interest of the corporation
- Based on information that supports the decision
For this particular case, the board based their decision on <em>previous market research</em> that received positive feedback.
Answer:
1. b. $896.00
2. c. $317.20
3. a. $578.80
4. b. $67.20
5. d. $4.80
Explanation:
1. WIlliam's total earnings
40 hours at $16 = $640
8 hours at $32 = $256
Total = $896
2. WIlliam's total deductions
Income Tax $200
United Fund deduction $50
Social security tax (6% * $896) $3.76
Medicare tax (1.5% * $896) <u>$13.44</u>
Total <u>$317.20</u>
3. William's net pay
= Total earnings - Total deductions
= $896 - $317.20
= $578.80
Cash Paid is $578.80
4. Employers FICA based on Williams pay
Social Security and Medicare taxes = 7.5% * $869 = $67.20
5. Employers Federal Unemployment based on Williams pay
Federal unemployment tax = 0.8% * $600 = $4.80
Answer:
In summary, labor supply is the total hours that workers or employees are willing to work at a given wage rate. Changes in income, population, work-leisure preference, prices of related goods and services, and expectations about the future can all cause the labor supply to shift to the right or left.