Your answer is D :)
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Suppose that the market for labor is initially in equilibrium. If the firm employs labor-saving technology, the equilibrium wage and the quantity of labor will both rise.
<h3>How do you calculate labor market equilibrium?</h3>
The labor market is in equilibrium when supply equals demand; E* workers are employed at a wage of w*.
In equilibrium, all persons who are looking for work at the going wage can find a job.
<h3>What is equilibrium wage rate?</h3>
The equilibrium market wage rate is at the intersection of the supply and demand for labor.
Employees are hired up to the point where the extra cost of hiring an employee is equal to the extra sales revenue from selling their output.
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The term you are looking for is <span>maximum possible loss.</span>
An employee's salary and contributions for the prior tax year are listed on a W-3 form, also known as the Transmittal of Wage and Tax Statements form. The Social Security Administration (SSA) receives this paperwork for proper filing.
Most employers are required by the IRS to submit Forms W-2 and W-3 at the start of each year for the prior year. A list of all the W-2 forms you are sending to the federal government is contained in Form W-3 (Transmittal of Wage and Tax Statements). Form W-3 specifies the number of W-2 forms being delivered and describes the total wages, Social Security wages, federal income tax withheld, and FICA tax withheld from employees during the year.
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Answer:
Marginal Cost = $30
Explanation:
Given that
Price = $60
Elasticity of demand = -2
Recall that
MC = P(1 + 1/Ed)
From monopolist pricing rule as a function of elasticity of demand.
Where MC = marginal cost
Ed = elasticity of demand = -2
Thus
MC = 60 (1 + 1/-2)
= 60 (1 + [-0.5])
= 60 ( 1 - 0.5)
= 60 (0.5)
= 30
MC = $30
