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Gekata [30.6K]
3 years ago
6

Suppose that the market for low-wage labor is perfectly competitive and initially in equilibrim. If the government establishes a

n effective minimum wage, which of the following will ocur?
Business
1 answer:
Simora [160]3 years ago
8 0

Answer:

Employment of low wage workers will decrease and which in turn increase the unemployment.

Explanation:

Perfectly competitive labor market, is the one which is described as the composite of many firms or companies that are in the competition for the workers. The firms will not be in power to set the wages for the workers, the market also determines the competitive wage.

But if this is a low wage labor and on that the government establish or form the minimum wage then it will result in the employment of the low wage workers will decrease and the consequence of which is increase in the unemployment.

Note: Options are missing so providing the direct answer

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There are no specific guidelines laid for the commission paid to real estate brokers. In India, real estate agents usually ask the seller and the buyer to pay 1-2% of the deal value as their commission, also known as the real estate brokerage fee.

8 0
2 years ago
In the short run, if average variable cost equals $50, average total cost equals $75, and output equals 100, the total fixed cos
musickatia [10]

Answer: $2500

Explanation:

From the question,

Average variable cost(AVC) = $50

Average total cost (ATC) = $75

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Since Average fixed cost is the difference between the average total cost and the average Variable cost. This will be:

AFC = ATC - AVC

AFC = $75 - $50

AFC = $25

We should note that:

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Therefore, total fixed cost is $2500

5 0
3 years ago
How have newer work models made the workplace more efficient?
Lelu [443]

Explanation:

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2nd Year: Dep Base x 4/15
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Answer is $4,000
6 0
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