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emmasim [6.3K]
3 years ago
13

Do you think that a price floor such as a minimum wage will result in a surplus of labor and hence unemployment?

Business
1 answer:
kow [346]3 years ago
7 0
<span>when the price floor of minimum wage is increased ,there will be lot of people to work for the current wages. now there will be a surplus of workers and less work compared to the workers. this will led to unemployment once again.</span>
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Suppose a firm has a fixed cost of $20,000 and a $5 variable cost for every unit it produces. If it produces 100 units, fixed co
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Answer:

$ 20000

$500

$ 20000

0

Explanation:

Fixed cost is cost that does not vary with output. It remains the same regardless of output produced.

Fixed cost would be $20,000 regardless of the output produced.

Variable costs vary with output level.

If 100 units are produced and variable cost per unit is $5, variable cost would be 100 × $5 = $500

If 0 unit is produced and variable cost per unit is $5, variable cost would be 0 x $5 = 0

Total cost is the sum of Fixed cost and variable cost

I hope my answer helps you

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