1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SSSSS [86.1K]
4 years ago
15

In a particular labor market, the demand for labor is given by W = 20 – (1 / 100)L, and the supply of labor is given by W = 4 +

(1 / 100)L, where W is the wage rate and L is the number of workers. The equilibrium wage is _____, and the equilibrium number of workers is _____. $10; 1,000 $12; 800 $20; 1,000 $8; 1,200
Business
1 answer:
PSYCHO15rus [73]4 years ago
7 0

Answer:

Equilibrium wage is $12

Equilibrium number of workers is: 800

Explanation:

Because in equilibrium, the price in this case, wage should be the same for the demand and for the supply you can equal both equations:

w=20-(1/100)L ; w=4+(1/100)L

20-(1/100)L=4+(1/100)L

Then, you should get L by algebra:

L(-1/100-1/100)=4-20

L(-2/100)=-16

L=1600/2

L=800

The equilibrium number of workers is 800

Then you replace this answer in either the supply or demand equation:

w=4+(1/100)*800

w=4+8

w=12

The equilibrium wage is: $12

You might be interested in
Matthew decides to buy expensive designer jeans. Less expensive jeans are available, but the added cost of the designer brand is
kicyunya [14]

Matthew decides to buy expensive designer jeans. Less expensive jeans are available, but the added cost of the designer brand is worth it to Matthew most likely because His preference is for designer labels, since the assertions made by the other manufacturers, which claim that designer trousers are less expensive, are illogical. This is further explained below.

<h3>What is the cost?</h3>

Generally, payment is required before it can be obtained or completed.

In conclusion, Affluent designer jeans are Matthew's choice. There are cheaper jeans out there, but Matthew most certainly prefers designer labels since the arguments of the other manufacturers, who say that designer pants are less costly, are irrational.

Read more about cost

brainly.com/question/15135554

#SPJ1

5 0
2 years ago
What is the intersection of the assessed probability and severity of a hazard called in the RM process?
Alex_Xolod [135]

Answer:

(1) Assessment

Explanation:

The intersection of the assessed probability and severity of a hazard in the risk management process is called 'risk assessment'

Risks are usually assessed in two broad areas namely: Probability of occurrence and Impact.

Probability of occurrence has to do with the degree of likelihood that a risk will materialize while 'impact' tries to access how much damage the risk is likely to cause, in the event that it materializes.

In summary, risk management usually views risk as a function of probability and impact.

3 0
3 years ago
Granger Company had January 1 inventory of $150,000 when it adopted dollar-value LIFO. During the year, purchases were $900,000
Lisa [10]

Answer:

$624, 750

Explanation:

Purchases = 900,000

Sales = 1500000

Price index = 110%

Inventory= 189750

1,500,000 - [{($150,000 x 110%) + $900,000} - $189,750]

=1,500,000 - [($150,000 x 1.1) + $900,000] - $189,750

= 1,500,000 - (1065000 - 189750)

= 1,500,000 - 875250

=$624,750

Gross profit. = $624750

5 0
3 years ago
Which department store carry history of whoo in the us?
MatroZZZ [7]
The department store carrying whoo is named SASA
7 0
3 years ago
A share of ownership in a corporation that represents a claim on a portion of that company's earnings is a ___?​
patriot [66]

Answer:

Stock

Explanation:

The value of a company is divided into small units called stocks. Therefore,  a stock represents partial ownership in a company. Individuals who own the stock of a company are known as the shareholders. The term stock, equity, or shares are used to mean the same thing.

The more stocks or shares an individual or an institution hold, the higher the percentage of ownership. As the company owners, shareholders are entitled to a stake in the company profits. Each shareholder earns dividends at the end of a financial year if the company is profitable.

Shareholders influence the management of the company by electing board members who, in turn, appoint the CEO.

5 0
3 years ago
Read 2 more answers
Other questions:
  • Your car needs a new engine and it cost $1,000. you currently have $600 to invest at 7% compound annually, how long will you hav
    11·1 answer
  • Alex is a production manager who believes his firm uses more of all types of resources than is necessary to produce its products
    5·1 answer
  • Aquatic Equipment Corporation decided to switch from the LIFO method of costing inventories to the FIFO method at the beginning
    10·1 answer
  • In business strategies, _____________ strategy defines the businesses in which a company will compete, preferably in a manner th
    7·2 answers
  • Meenach Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-ho
    7·1 answer
  • Bob is working on a new report for the next quarterly meeting that he knows the CEO needs to determine next​ quarter's direction
    7·1 answer
  • The double-declining-balance rate for calculating depreciation expense is determined by doubling the straight-line rate. Assumin
    6·1 answer
  • In year T, a US citizen buys 100 shares of Sonic on the Tokyo stock exchange at 700 yens each. Suppose the exchange rate then is
    12·1 answer
  • On January 1, 2017, the merchandise inventory of Glaus, Inc. was $1,600,000. During 2017 Glaus purchased $3,200,000 of merchandi
    9·1 answer
  • Use the following information to perform the calculations below (using the indirect method).
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!