Answer:
The greater labor's share of production costs, the <u>higher</u> elasticity of demand for labor.
When labor costs are a high share of total production costs, the elasticity of labor demand is higher. For example, customer service jobs like fast foods, or gas pumping, have high labor costs as a percentage of total production costs, and these sectors have a very elastic labor demand.
you would expect the demand for human ski instructors to be less elastic the demand for human factory workers.
In the year 2035, with robots having replaced most humans in factory jobs, occupations such as ski instructor, or dance instructor, or musician, would have a low labor demand elasticity because these skills are not easily learned, or easily replicated by a robot, meaning that the humans specialized in those jobs will be more demanded, and the demand for their labor will be more stable.
Answer:
Option (E) is correct.
Explanation:
The labor productivity boost by 50%
From current 5000 pairs per worker,
the productivity will increase to:
= 5,000 × (1 + 50%)
= 7,500
Total pay = $40,000 annually
Cost per pair with increased productivity:
= Total pay ÷ Increased productivity
= 40,000 ÷ 7,500
= $5.33
Therefore, it is accurate to say that its labor costs per pair produced will decline from $8.00 per pair to $5.33 for a production facility in North America.
Answer:
B. are part of a firm's marketing strategy.
Explanation:
Segmentation, targeting, and positioning are important steps that must be followed in order to create a Marketing Plan. The idea behind these concepts is to define a market segment and create and strategy to connect the good or services provided with the clients.
Answer:
the difference between operating incomes under absorption costing and variable costing is $180,000 .
Explanation:
The difference between the two Operating Incomes lies in the amount of Fixed Overheads that has been deferred in Inventory.
So, calculation of the difference will be as follows :
Beginning fixed manufacturing overhead in inventory $230,000
Less Ending fixed manufacturing overhead in inventory ($50,000)
Difference between absorption costing and variable costing $180,000
Inflation increases the rate of return.