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Svetradugi [14.3K]
3 years ago
12

Suppose the world price of cotton falls substantially. The demand for labor among cotton-producing firms in Texas willdecrease .

The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, willdecrease . The temporary unemployment resulting from such sectoral shifts in the economy is best described asfrictional unemployment.
Business
1 answer:
MAVERICK [17]3 years ago
7 0

Answer:

Decrease

Increase

Frictional unemployment.

Explanation:

If the world price of cotton falls considerably, the cotton producing firms will not be able to make the expected level of revenue they have initially projected, this fall in revenue will lead to the firm requiring less labor, therefore there will be a decrease in demand for labour.

However, textile producing firms in South Carolina will see this fall in price as an opportunity to purchase as much cotton as possible, this will therefore lead to the firms needing more labor to work with the large number of inputs purchased. This will therefore, lead to an increase in the demand for labor.

The resulting consequence will therefore be Frictional Unemployment, which is the time spent between jobs by the labor. It results from transferring from the cotton producing firms, to the textile producing firms.

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The individual price where the revenue would be maximized for the Certification in Online Counseling is <u>$190</u> with total revenue of $190,000.

<h3>What is total revenue?</h3>

The total revenue is a function of the units sold and the unit price.

To calculate the total revenue for each segment, the sales units per segment are multiplied by the segment's price.

TR = P * Q or Total Revenue = Price * Quantity.

<h3>Data and Calculations:</h3>

Online Self Study Certifications for Social Work License

                                  Certification           Certification                Bundle

Customers                     in Online      Counseling as a Group

                                                              Home Counselor

                               TR Counseling      TR Group Home         TR Bundle Segment 1  1000  $190  $190,000      $70       $70,000    $260 $260,000

Segment 2 1000  $150    150,000      $90        90,000     $240   240,000

Segment 3 1000   $95     95,000     $160       160,000     $255   255,000

Segment 4 1000  $35      35,000     $195       195,000     $230   230,000

Learn more about calculating total revenue at brainly.com/question/25623677

#SPJ1

<h3>Question Completion: </h3>

Online Self Study Certifications for Social Work License

                                  Certification           Certification                Bundle

Customers                     in Online      Counseling as a Group

                                                               Home Counselor

                               TR Counseling        TR Group Home       TR Bundle Segment 1  1000  $190                       $70                          $260

Segment 2 1000  $150                       $90                          $240

Segment 3 1000   $95                      $160                          $255

Segment 4 1000   $35                      $195                          $230

Required:

At what individual price would the revenue be maximized for the Certification in Online Counseling?

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