Answer:
Check the following explanation
Explanation:
(a) Since the marginal cost is constant at $1.50 and not increasing, the amount of hot dogs suppliers would want to supply is infinite as $1.50 will always be less than $2 and the more they supply, the more they earn.
(b) No, it would not remain at $2 for a long time. In a perfectly competitive industry, firms can easily enter or leave the industry, therefore, any supernormal profits will attract new firms to enter the industry and increase the overall supply of hot dogs, bringing the price back down to $1.50, where P = MC.
(c) When P = 1.50, Quantity demanded = 4400 - 1200(1.50) = 2600.
Number of firms = 2600/100 = 26 firms.
(d) Quantity supplied = 20(100) = 2000
When demand = supply, 2000 = 4400 - 1200P
P = 2
(e) Supernormal profits per day = (2-1.50)(100) = $50
Therefore, firms will pay a maximum of $50 a day, which is equals to the amount of supernormal profits earned.
Maximum employment, stable prices, and moderate long-term interest rates are the Fed's three monetary policy goals.
<h3>What is monetary policy?</h3>
Monetary policy, which also has the goal of fostering economic growth, controls the total amount of money in a country. Examples of monetary policy tactics include modifications to bank reserve requirements and interest rate changes. Monetary policy is frequently divided into two categories: expansionary and restrictive.
To enhance employment, GDP, and price stability, for instance, policymakers control the flow of money using tools like interest rates, reserves, bonds, etc.
The Federal Reserve (the Fed), the country's central bank, has been given authority over monetary policy by Congress; however, Congress is also responsible for overseeing the Fed's compliance with its legal obligations of promoting maximum employment, maintaining price stability, and maintaining moderate long-term interest rates.
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It was Madame C. J. Walker, the entrepreneur who had a significant impact of the cosmetics industry. Her real name is Sarah Breedlove and she made unique and specialize hair products for African-American hair. Her being the creator of the specialized hair products for African-American women hair was inspired by her personal hair problem. She once had a scalp illness resulting to a severe hair loss that is why she decided to create products that would cure such. This line of industry make her one of the first millionaire during her times.
A country's balance of trade is defined by its net exports (exports minus imports) and is thus influenced by all the factors that affect international trade. These include factor endowments and productivity, trade policy, exchange rates, foreign currency reserves, inflation, and demand.
Answer:
The answer is below
Explanation:
According to a Fair Labor Standards Act, FLSA, guidelines regarding working hours apply to Hayim's employees in the following ways:
1. All the workers, (either full time or part-time) is entitled to remuneration based on minimum wage.
2. All the employees should work based on the guideline regarding maximum hours
3. The minimum age is applicable to all the employees
4. Remuneration of the employees must be based on the applicable Pay rates
5. There must be mandatory break periods for all workers, regardless if it is full time or part-time workers.