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Svetradugi [14.3K]
3 years ago
11

A country has passed a law setting a minimum wage for factory workers 5% below the equilibrium price. How will this law impact t

he labor market?
Business
1 answer:
kogti [31]3 years ago
6 0
This law will impact the labor market cause of low pay rate that will stop more people from applying for that job
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Why should you always consider the opportunity cost when making a significant purchase?
vladimir2022 [97]

You should always ponder the opportunity cost when making a important purchase to make sure you choose making a payment that would be most beneficial for you. Opportunity Cost refers to the financial opportunity that is given up because you choose to do something else with your money

8 0
3 years ago
In the short run a) a firm does not have sufficient time to change any of the resources it uses. b) a firm does not have suffici
timama [110]

Answer:

c) a firm does not have sufficient time to change the level of use some of its inputs.

Explanation:

The definition of short-run in economics is not a term to be used for a specific certain period of time but it means that the period of time is too short that the firms cannot change the level they are using of some of their inputs or costs. It means they do have fixed costs they cannot change. For example, all machinery installed, a yearly rent paid, electricity or others that the firm cannot change unless there is sufficient time. In a short period of time, it will have those costs anyway. The firm cannot change the level of that input. And it is short run of at least one input. It may be many. But it is not necessary to have all inputs unchanged to consider that period of time as short-run.

However, firms can change level of inputs if they have more time. That is cost the long run. All costs are variable costs when we are in long run.

3 0
3 years ago
What effect will each of the following have on the demand for small automobiles such as the Mini-Cooper and Fiat 500?
icang [17]

Answer:

a. Demand will increase.

b. Demand will increase.

c. Demand will increase.  

d. Demand will decline.

e. Demand will increase.

Explanation:

a. If small automobiles become more fashionable, people will prefer them more. This will lead to an increase in demand for autos.  

b. If there is an increase in the price of large automobiles and the price of the small automobiles remain the same, people will prefer the cheaper substitutes. This will cause the demand for small automobiles to increase.  

c. Inferior goods have a negative income effect. SO, when income declines the demand for small autos will increase and vice versa.  

d. If consumers expect the price of small autos to fall in the near future, they will hold their money to buy autos when their price fall. This will cause the current demand to fall.  

e. When the price of gasoline drops it will become cheaper to use autos. This will lead to an increase in demand for autos.

8 0
3 years ago
Read 2 more answers
A7X Corp. just paid a dividend of $2.80 per share. The dividends are expected to grow at 20 percent for the next eight years and
kifflom [539]

Answer:

The price of the stock today=$560

Explanation:

We can use the expression for calculating the required rate of return to calculate the price of the stock today:

RRR=(EDP/SP)+DGR

where;

RRR=required rate of return

EDP=expected dividend payment

SP=share price

DGR=dividend growth rate

In our case:

RRR=13%=13/100=0.13

EDP=$2.80 per share

SP=unknown

DGR=20% and 8%, the average DGR=(20+5)/2=12.5%=0.125

replacing in the original expression;

0.13=(2.8/SP)+0.125

2.8/SP=0.13-0.125

2.8/SP=0.005

SP=2.8/0.005

SP=$560

The price of the stock today=$560

6 0
3 years ago
Extreme Adventurer, an outdoor nature magazine, marketed to potential customers who recently purchased camping equipment and fou
MrRa [10]

Answer:

potential customers who recently purchased camping equipment and four-wheel drive trucks.

Explanation:

  • The call to action has a huge potential hidden in reaching out to the customers and making them call for outdoor nature and adventure.
  • The magazine tries to catch the reader's attention by making claims such as tired of sitting in front of your computer.  
  • Those people who usually stay at home and are unable to move out due to some reason can use their purchased camping equipment and four-wheel-drive trucks.
7 0
3 years ago
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