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Montano1993 [528]
3 years ago
11

“If the minimum wage rate is higher than the equilibrium wage rate, fewer people will be hired because the cost of labor is too

high”. Do you agree or disagree?
Business
1 answer:
icang [17]3 years ago
5 0

If the minimum wage rate is higher than the equilibrium wage rate, fewer people will be hired because the cost of labor is too high. I agree.

Explanation:

  • If the minimum wage is set above the equilibrium wage rate, it has powerful effects. The Labor Market and the Minimum Wage The equilibrium wage rate is $4 an hour. The minimum wage rate is set at $5 an hour. So the equilibrium wage rate is in the illegal region
  • If the minimum wage is set below the equilibrium wage rate, it has no effect. The market works as if there were no minimum wage. If the minimum wage is set above the equilibrium wage rate, it has powerful effects.
  • The equilibrium market wage rate is at the intersection of the supply and demand for labour. Employees are hired up to the point where the extra cost of hiring an employee is equal to the extra sales revenue from selling their output.
  • When the labor market is in equilibrium, the economy is at full employment.
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A monopolistically competitive firm is producing at an output level in the short run where average total cost is $4.75, price is
Scorpion4ik [409]

Answer: With a loss

Explanation:

The firm here has its Marginal cost higher than it's marginal revenue.

This means that for every additional unit sold, the company is incurring a loss of $0.50 which is the difference between the marginal cost and the marginal revenue.

The company is therefore operating at a loss because every additional unit is costing them instead of benefitting them. To counter this, they need to reduce production so that marginal cost will fall.

5 0
3 years ago
embroidered dog apparel over the Internet. Her annual revenue is​ $128,000 per​ year, the explicit costs of her business are​ $4
IceJOKER [234]

Answer:

$86,000

Explanation:

The opportunity cost is an economic concept. It is the cost of the alternative foregone. Accounting profit does not take into cognizance the alternative foregone.

It only considers the explicit cost incurred in the process of making sales or generating revenue.

As such,

Accounting profit = $128,000 - $42,000

= $86,000

7 0
3 years ago
When you purchase shares of a company in the market, who are you buying those shares from?
leva [86]

Answer:

Investor

Explanation:

A stock is a speculation. At the point when you buy an organization's stock, you're buying a little bit of that organization, called an offer. Investors buy stocks in organizations they think will go up in esteem. On the off chance that that occurs, the organization's stock increments in esteem also.

Investor is a person who purchase shares of a company in the market.

3 0
3 years ago
The beta of a security is calculated as: (_____ of a security’s return with the return on the market portfolio / _______).
spayn [35]

Answer:

Beta of a security is the covariance of the security return with the return on the market portfolio divided by variance of the market return.

The correct answer is C

Explanation:

Beta of a security is calculated as covariance (Ri,Rm) divided by Variance of the market return. Beta is used for measuring the systematic risk of a security.

5 0
3 years ago
Explain six Differences between private and public company​
elena-s [515]
<h3>Question:</h3>

•explain six Differences between private and public company.

Answer:

•In most cases, a private company is owned by the company's founders, management, or a group of private investors. A public company is a company that has sold all or a portion of itself to the public via an initial public offering.

Explanation:

#Let's Study

#I Hope It's Help

#Keep On Learning

#Carry On Learning

6 0
2 years ago
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