Answer:
Project feasibility.
Explanation:
Project feasibility is an analysis of how viable a project is and considering technical and legal feasibility of a project. Also it looks at the economic justification of the project. Is it profitable for the business to undertake the project?
Project feasibility tells one of a project is worth doing or if it is doable.
Concept or the idea and development phase focus are part of the project feasibility stage. Where ideas are analysed to see their viability and developed.
Answer: A minimum wage set above the equilibrium wage will create a surplus of labor. The reason for this is that when the minimum wage is set about the equilibrium wage, the quantity of labor demanded will form, as firms will desire to hire less labor at higher rates. For eg if the equilibrium wage level is $10 per hour and a firm hires 2000 workers at that rate, if a minimum wage of $12 per is enforced the same firm might be willing to hire only 1800 workers at that rate and this will create a surplus of labor.
Explanation:
The firm initiates a price decrease, their projection on the competitors' reaction is they will also decrease their price to level with them. Starting a price decrease will affect the whole market of like products. Also, another angle that they considered is they will be reprimanded by their regulatory board.
