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
seraphim [82]
3 years ago
13

f the supply of labor increases, which of the following events will occur? The wage rate will fall and firms will decrease emplo

yment to the point where MRP equals the new wage rate. The wage rate will fall and firms will increase employment up until the point where MRP equals the new wage rate. The wage rate will increase and firms will decrease employment to the point where MRP equals the new wage rate. The wage rate will increase and firms will increase employment up until the point where MRP equals the new wage rate.
Business
1 answer:
Leona [35]3 years ago
3 0

Answer:

The answer is "The wage rate will fall and employment will be increased until the new wage rate is equal to MRP.

Explanation:

Firms always try to maximize their profit. Therefore when they hire labor, the increase in labor costs must be lower than the labor's increase to the firm's total revenue. And this forms the "Marginal Revenue Productivity" which is simply the theory that suggests "Wages are paid at a level that is equal to the value of the marginal product of labor".  Supply of labor is a function that is inversely proportional with wage rate. So if the supply of labor increases, the correct answer is that "The wage rate will fall and firms will increase employment until MRP equals the new wage rate." Hope this was helpful.

You might be interested in
Shamrock Company's accounts receivable arising from sales to customers amounted to $142000 and $124000 at the beginning and end
aleksandr82 [10.1K]

Answer:

$557,000

Explanation:

Operating activities: It includes those transactions which affect the working capital. It means that the increase in current assets and a decrease in current liabilities would be deducted and a Decrease in current assets and an increase in current liabilities would be added.  

The computation is shown below:

= Income reported on the income statement + decrease in account receivable

= $539,000 + $18,000

= $557,000

The decrease in account receivable

= $142,000 in beginning of the year - $124,000 in end of the year

= $18,000

8 0
3 years ago
Please answer the following questions:
Oduvanchick [21]

The price elasticity of the loan taken by the entrepreneur comes out to be 10.

<h3>What is the price elasticity of demand?</h3>

The price elasticity of demand is an indicator used to determine the sensitivity of demanded quantity with respect to its corresponding price.

Given values:

Change in quantity demanded: 50%

Change in price: 5%

Computation of price elasticity of demand:

\rm\ Price \rm\ elasticity \rm\ of \rm\ business \rm\ loan=\frac{\rm\ Change \rm\ in \rm\ quantity \rm\ demanded}{\rm\ Change \rm\ in \rm\ price} \\\rm\ Price \rm\ elasticity \rm\ of \rm\ business \rm\ loan=\frac{50\%}{5\%} \\\rm\ Price \rm\ elasticity \rm\ of \rm\ business \rm\ loan=10

Therefore, when the change in quantity demanded is 50% with the change in the price is 5%, then the price elasticity of a business loan is equal to 10.

Learn more about the price elasticity in the related link:

brainly.com/question/10610673

#SPJ1

4 0
2 years ago
The following information has been provided by Hale Company: • Advertising expense $8,800; • Interest expense $3,800; • Rent exp
klemol [59]

Answer:

Hale’s total expenses in calculating operating income is $57000

Explanation:

Operating income represents profit realized in carrying out Hale Company primary activities

Only expenses incurred in are considered in calculation of Hale`s Operating Income

<em>Cost of Sales</em>

Cost of goods sold                        22200              

<em>Administration</em>

Rent expenses for store                18000

Depreciation                                    8000

<em>Selling and distribution expenses</em>

Advertising                                       8800

Total Expenses                               57000

6 0
3 years ago
Examine the relationship between total spending by government and consumers in a nation and the location of the countries gdp on
Vanyuwa [196]

Answer and Explanation:

  • Consumer as well as government overall expenditure seems to be a significant determinant of economic growth during a market. Unless the overall spending increases, the demand changes positively.
  • Hence, just before the total individual and corporate expenditure in something like a firm increases, it demonstrates that perhaps the country's affairs cycle is going to expand, and then when total expenditure drops significantly, it illustrates that the financial sector's business period is going via compression.

So that it is the right answer.

5 0
3 years ago
Aldi, Lidl, Dollar General, and Family Dollar are examples of ________, as they carry a more restricted merchandise mix than dis
liq [111]

Answer:

The correct answer to the following question is Extreme value stores .

Explanation:

Extreme value stores are those type of stores which are also know as merchandise  discount store, which are easily found in the low income rural and urban areas. These type of stores are usually small discount stores, who have very limited merchandise assortments and they offer those products at a very low price. The given examples of Aldi, Lidl, Dollar general and Family Dollar are all examples of Extreme value stores.

4 0
3 years ago
Other questions:
  • What has been the pattern of union membership in recent years?
    7·2 answers
  • Sweet Company reports a pretax financial income of $72,600 for 2020. The following items cause taxable income to be different th
    6·1 answer
  • At the end of April, Cavy Company had completed Job 766 and 765. According to the individual job cost sheets the information is
    9·1 answer
  • Strategic fit among the many activities in the value chain is critical for competitive advantage because it is more difficult fo
    10·1 answer
  • . Discuss and Implement the Price Adjustment Strategies in current market. Apply each strategy with 3 examples along with pictur
    11·1 answer
  • The consumption function will shift down if:
    7·1 answer
  • Can someone help me please it’s urgent I’ll crown brainliest
    7·1 answer
  • 3. Problems and Applications Q3 The problem of time inconsistency applies to fiscal policy as well as to monetary policy. Suppos
    14·1 answer
  • Flax Corp. uses the direct method to prepare its Statement of Cash Flows. Flax's trial balances at December 31, 20X4 and 20X3, a
    9·1 answer
  • Pasadena Candle Inc. budgeted production of 785,000 candles for January. Each candle requires molding. Assume that six minutes a
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!