<u>Explanation:</u>
When the wages of the laborers increase the cost to the company increases so the company tries reduce the in take of the labors. When the intake is reduced the demand for the labor falls down. When there is a low demand then the demand curve will shift to left in the graph.
When the wages are low then the firms would intake many employees as labor is cheap in the market. This would increase the demand for labor and the demand curve would shift to right.
Answer:
D
Explanation:
A minimum wage set above market's equilibrium wage increases the cost of hiring labour. so the demand of labour falls.
A minimum wage that is set above a market's equilibrium wage increases the income that would be earned by labour, so the supply of labour increases.
Because the increased supply for labour would not be matched with a corresponding increase in demand, there would be unemployment
<span>An opportunity cost is defined as what someone gives up to receive the potential benefits from the purchase of one more unit of something else. Given the choices above, every ordinary decision we make involves an opportunity cost, is correct. Whenever someone has to make a decision, something is always given up in order to make the final decision. </span>
Answer:
1. a demand curve
2. a demand schedule
Explanation:
A demand curve is a graphical presentation indicating the connection between the price of a product, for example Television, and the quantity demanded for that product at a specific price.
On the other hand, a demand schedule is a table presentation of detailed data or numbers of the price-quantity demanded relationship for a product.
Hence, the right answer are:
1. a demand curve
2. a demand schedule
Well...if he earns $75 an hour....and he worked for 20 hours...that's
75 * 20 which = 1500
Now it says he also earns a flat fee....since the question states he billed the client 1800...and he only earned 1500 of it...that must mean that his flat fee would be
1800 - 1500 = 300
So his flat fee is 300...and his variable charge...is 75x (75 dollars per hour)
in an equation...this would look like
C(x) = 75x + 300
