1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nikitich [7]
3 years ago
9

A country has passed a law setting a minimum wage for factory workers 5% below the equilibrium price. How will this law impact t

he labor market?
A.) The law will likely cause a shortage of labor.
B.) The law will likely increase unemployment.
C.) The law will have no impact on the market.
D) The law will increase prices without affecting quantity.
Business
1 answer:
ella [17]3 years ago
6 0

Answer:

C.) The law will have no impact on the market.

Explanation:

The minimum wage refers that the producers could charge high amount as compared with the wages i.e. minimum also the equilibrium wage would be more than the minimum wage so this represents that the market is an equilibrium point and hence there is no impact on the market

Therefore the option C is correct

And, hence all the other options are wrong

You might be interested in
For a recent year, TechMart reported sales of $36,241 million. Its gross profit was $9,785 million. What was the amount of TechM
nydimaria [60]

Answer:

$26,456 million.

Explanation:

The formula to calculate the gross profit is:

Gross profit=Sales-cost of goods sold

Using this formula we can calculate the cost of goods sold as we have the information about the gross profit and the sales:

Cost of goods sold=Sales-Gross profit

Cost of goods sold=$36,241-$9,785

Cost of goods sold=$26,456

According to this, TechMart's cost of goods sold was $26,456 million.

8 0
3 years ago
Which of the following price indices is designed to measure changes in the prices of goods and services purchased by a typical i
skad [1K]

Answer:

d. Consumer price index

Explanation:

Consumer price index in any country consists of goods and services that are used in day to day activities by consumers e.g. daily food items, utilities, transportation etc. The index is used to measure the increase in weighted average prices of the constituents over a particular time.

Option A is price index for producers that measures the increase in price of goods and services that are typically used by different producers for their output.

Option B is an analysis that is used to assess the trends of any economy. This analysis is performed by government economists, officials and government to make informed decisions about future actions. Individuals have no use of the index.

Option C Gross domestic product (GDP) deflator is a price adjustment to GDP of current year to depict the actual growth in value of goods and services produced in a particular year. GDP deflator is a reduction of inflation rate from nominal rate of increase in GPD.

8 0
4 years ago
A Notary Signing Agent and a borrower have finished signing documents and all that is left to wrap-up the appointment is to chec
Andrews [41]

Considering the situation described above, the Notary Signing Agent (NSA) should <u>check the documents for errors and call the borrower for the next appointment.</u>

This a because, at this stage, what is left is to wrap up the appointment, and checking of errors can be quickly done.

A Notary Signing Agent is an individual whose role is to sign an agent. A courtesy signer is an agent whose function is to ensure a formal signature of an appearer is made to a document.

Generally, the role of an NSA includes the following:

  • Printing loan documents,
  • Meeting the signer and notarizing their signature,
  • Returning the documents for processing.

Hence, in this case, it is concluded that the correct answer is "<u>check the documents for errors and call the borrower for the next appointment."</u>

Learn more here: brainly.com/question/25497898

5 0
3 years ago
A consumer is attempting to maximize utility in her consumption of Goods A and B. If her income and the price of Good A do not c
ycow [4]

Answer:

In this section, we are going to take a closer look at what is behind the demand curve and the behavior of consumers. How does a consumer decide to spend his/her income on the many different things that he/she wants, i.e., food, clothing, housing, entertainment? We assume that the goal of the consumer is to maximize his/her level of satisfaction or joy, constrained by his/her income.

Economists use the term utility as a measure of satisfaction, joy, or happiness. How much satisfaction does a person gain from eating a pizza or watching a movie? Measuring utility is based solely on the preferences of the individual and has nothing to do with the price of the good. Let’s do an experiment in utility.

Step 01: Get some of your favorite candy, pastries, or cookies.

Step 02: Take a bite and evaluate, on a scale from 0 to 100 (with 100 being the greatest utility), the level of utility from that bite. Record the marginal utility of that bite (i.e., how much you get from that one additional bite).

Step 03: Repeat step 02. It is important to be consistent with each unit consumed, i.e., the same size and no drinking milk or water part way though. When you run out of candy or your marginal utility goes to zero you can stop.

Law of Diminishing Marginal Utility

5 0
3 years ago
Baker Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, t
Lana71 [14]

Answer:

Overhead rate is $30.4

So option (c) is correct option

Explanation:

We have given total estimated overhead = $85120

Estimated direct labor hours = 2800

Actual manufacturing overhead for the year = $86870

Actual labor hour = 2700

We have to find overhead rate for the year

Overhead rate is equal to the ratio of estimated overhead to estimated labor hour

Therefore overhead rate =\frac{85120}{2800}=30.4$

So option (c) is correct

3 0
3 years ago
Other questions:
  • Which of the following is the number one method of financing for most new businesses​
    7·1 answer
  • On April 1 of the current year, Troubled Company factored receivables with a carrying value of $85,000 for $60,000 in cash from
    11·1 answer
  • Determine which of the following annual gifts are subject to gift taxes and to what extent they need to be included in an estate
    6·1 answer
  • England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 50 scones per hour or 1 sweate
    9·1 answer
  • How do you know how many items to order for your kitchen?
    12·1 answer
  • Do u think he is cute??? if so thennn.. ikrrrr he is so fineee.. but anyways just follow him on tik. t0 k
    7·2 answers
  • The best way for a company to handle a boycott is to
    8·1 answer
  • When a restaurant prices pizza at $10 per slice they sell 100 slices in a night. If they sell pizza for $5 per slice, they sell
    6·1 answer
  • the approach to ethical decision making sidesteps debates about what is right, good, or just and bases decisions on prevailing s
    15·1 answer
  • Gina induces hugh to enter into a contract for the purchase of a condominium about which gina knowingly misrepresents a number o
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!