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Allushta [10]
3 years ago
10

Initially, when a firm hires a fourth worker, its wage rate goes from $80 a worker to $90. The marginal revenue product of the f

ourth worker is $100. Then the government imposes a minimum wage of $90 a worker. If the firm now hires the fourth worker, its profits will
Business
1 answer:
max2010maxim [7]3 years ago
5 0

Answer:

increase by $10.  

Explanation:

The marginal cost of hiring a fourth worker is already $90. This means that any price floor (minimum wage) imposed by the government will not affect this worker or the company because his/her wage was already equal to the new minimum wage.

The firm's profit = marginal revenue product - marginal cost = $100 - $90 = $10.

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Cynthia always buys whichever brand of paper towels is on sale, even if it is not the highest quality towel. her paper towel buy
Ann [662]

Single feature model

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6 0
3 years ago
Are policymakers susceptible to​ rent-seeking behavior? Explain. ​Rent-seeking behavior
Taya2010 [7]

The correct answer is D: May succeed when many voters are rationally ignorant.

Further Explanation:

Rent-seeking behavior can best be described a person lobbying for a particular business or person. Many times a politician is bribed to give a that business certain legislature rules/laws in favor for that company.

If logrolling is permissible, the rent seeking may be successful. Many times the this produces results that are not favorable to the public and can even be harmful. It really helps to understand the government policies when a person understands rent-seeking behavior.

Some ways a government may fail is;

  • rent seeking behavior
  • Regulatory capture
  • rational ignorance
  • logrolling

Learn more about rent-seeking behavior at brainly.com/question/13767756

#LearnwithBrainly

4 0
3 years ago
Which one of the following is not a right of common stockholders?a) To share proportionately in all management decisions.b) To s
lozanna [386]

Answer: Option A

Explanation: Common stockholders refers to the holders of common equity of an organisation. These shareholders are actually the owners of the organisation. They have the potential to earn maximum benefit and bear the maximum risk.

They have the right to select the auditor and board of directors but they cannot interfere with the management decisions. This right stands in the domain of the top managers which are appointed by these shareholders.

Thus, we can conclude that the correct option is A .

5 0
3 years ago
An accounting system must be able to a.collect and classify information. b.summarize information. c.report information. d.All of
Vikentia [17]

Answer:

The answer is D.

Explanation:

The chronological order of Accounting System is:

Collecting of information

Classifying of information

Summarizing of information

Reporting a business financial

and operating information.

You can see all the options are in the chronological order of accounting system. Therefore, all of the above is correct.

5 0
4 years ago
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