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ipn [44]
3 years ago
11

If the market wage decreases from 30 ($/hr) to 20 ($/hr), what is the decrease inthe net benefit achieved from working in the ec

onomy? Can you distinguishbetween two factors at work?
Business
2 answers:
igomit [66]3 years ago
8 0

Answer:

Please see below

Explanation:

A. Decreasing the wage rate leads to an increase in the quantity of labor demanded. Which leads to increased production and ultimately can lead to an increase in a firm's profit if other factors are left constant.

B. The two factors at work is demand and supply.

NARA [144]3 years ago
5 0

Answer:

Market Wage Rate is the point where total quantity of labor demanded by firms in that market  is equivalent to the quantity of labor supplied in a labor market .

A rise in the wage rate increases the costs of production, hence, firms will raise their selling prices. As the selling prices of the product increases, consumers purchasing power will also reduce and less output will be sold. This implies that less labour will be demanded.

labour more expensive relative to capital when there is a rise in wages makes , firms will prefer to substitute capital for labour. Therefore, less labour will required for production.

The market wage rate which is the wage that the firm actually pays their workers , and it is determined by the  force of market demand and market supply of labor.

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Bade Midwifery's cost formula for its wages and salaries is $1,230 per month plus $240 per birth. For the month of October, the
jasenka [17]

Answer:

wages and salaries activity variance= $1,000 unfavorable

Explanation:

Giving the following information:

Standard:

Fixed= $1,230

Variable= $240 er birth

Actual:

101 births.

The actual wages and salaries for the month was $26,470.

To calculate the activity variance for wages, we need to use the following formula:

wages and salaries activity variance= (actual costs - standards costs)

standards= 1,230 + 240*101= $25,470

wages and salaries activity variance= (26,470 - 25,470)

wages and salaries activity variance= $1,000 unfavorable

7 0
3 years ago
Faughn Corporation has provided the following data concerning manufacturing overhead for July:
creativ13 [48]

Answer: D. Manufacturing overhead was underapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $253,000

Explanation:

The Manufacturing overhead applied is less than the actual manufacturing overhead incurred by:

= 79,000 - 69,000

= $10,000

Manufacturing overhead is therefore underapplied as the amount applied is too low to cover the amount incurred.

The Cost of Goods sold after closing out is:

= Cost of goods sold before closing out + Underapplied manufacturing overhead

= 243,000 + 10,000

= $253,000

6 0
3 years ago
True or false: The aggregate demand curve slopes downward because it reflects a direct relationship between the price level and
bearhunter [10]

The aggregate demand curve slopes downward because it reflects a direct relationship between the price level and the amount of real output demanded. This statement is false.

<h3>What is a demand curve?</h3>

It should be noted that a demand curve simply means the graph that illustrates the quantity bought at a price.

In this case, the curve slopes downward because output reduces as price increases. This shows an inverse relationship.

Learn more about demand curve on:

brainly.com/question/1486483

#SPJ1

6 0
2 years ago
Create a bulleted list of four descriptive terms describing possible experience a person may have. These may be your own experie
strojnjashka [21]

Answer: I can’t give an exact answer but i can help you get on the right path an experience is The knowledge or skill acquired by experience of carrying out a task or chore over a period of time, Especially that gained in a particular profession by working a position in a job for certain amount of time that you can carry out that procedure independently with out needing instructions or training first

6 0
3 years ago
Julia wanted to test out a new product for her company. She scheduled several small group lunches and learns with internal staff
KengaRu [80]

Answer: Informational

Explanation: These roles refers to the collection, dissemination and transmission of information by the manager. This role of the manager depicts how suitable a manager in decision making as the information collected is usually related to some important decision to be made.

     In the given case, Julia tries to collect all the relevant information from different sources such as staff meetings. She collected all the information with objective of making the product suitable for customer needs and preferences.

Thus, we can conclude that Julia likes to play informational role.

7 0
3 years ago
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