Answer:
$17.9469
Explanation:
Calculation for what dollar wage must be paid in the third year
Since the first year is tend to be the base year in which the real wage and nominal wage are both $15 per hour in that year.
The real wage is suppose to increase by 2 percent in the second year which means that the real wage in year two will be $15.30 ($15 * 1.02) per hour.
In a situation where the real wage was supposed to also increase by 2 percent in the third year, this means that the real wage in year three will be $15.606 ($15.3 * 1.02) per hour.
Therefore In order for us to find the nominal wage in third year , we have to index the real wage in order for it to adjust for inflation. Thus the nominal wage in third year will be $17.9469($15.606 * 1.15).
Therefore what dollar wage must be paid in the third year will be $17.9469
Don't use "i" or refer to yourself in any way try not to state opinions but facts
To solve: add up all in the labor costs and then divide by the number of units produced to get the per unit cost of the labor.
<span>Direct materials = $4,400
Direct labor = $5,600
Factory overhead = $2,400
Units produced = 1,000
Per unit cost = ($4,400 + $5,600 + $2,400)/1,000
Per unit cost = $12,400/1,000
Per unit cost = $12.40</span>
Answer:
Give an example of a situation in which a surplus of a product led to decreased prices. similarity, give a example of a situation in which a shortage led to increased prices. what eventually happened in each case? why?
In the course of having surplus of a product which decreases the price, this happens as a result of high competition as there many people selling the same products which in turns leads to crash in price in order to make sales and little profit.
while product shortage or scarcity happens as a result of decrease in resources or decrease in supply, hence; results into scarcity of products which eventually aids increment of price
Explanation:
