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SSSSS [86.1K]
3 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]3 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

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3 years ago
The characteristics that make a team effective include ________.
Sonbull [250]

Answer:

- context, composition, work design, and processes

Explanation:

While all the option have important parts which makes a team effective there are options with characteristics which do not affecrt the team effectiveness.

The resources available can vary between the projects thus, cannot determinated the effectiveness of a team. Thus, the second cannot be correct.

The size is a variable part as well thus, the third option cannot be correct neither.

Finally the task significance, the team should do an efficient job regardless of how much crucial is the job As if done badly all task have impact on the overall firm outcome. From janitor to managers is required that all team jobs make the extra mile or effort to achieve the desired outcome. Thus the fourth statement is not correct.

3 0
3 years ago
You need a 30-year, fixed-rate mortgage to buy a new home for $250,000. Your mortgage bank will lend you the money at an APR of
cricket20 [7]

Answer: $463,067.50

Explanation:

Calculation of single bill payment i.e. Future value

Future\ value=Present\ value\times(1+r)^{n}-Payment\times\frac{(1+r)^{n}-1 }{r}

Future\ value=250,000\times(1+\frac{5.45}{1200} )^{360}-900\times\frac{(1+\frac{5.45}{1200} )^{360}-1 }{\frac{5.45}{1,200} }

                            = $250,000 × 5.110505847 - $900 × 905.06551

                            = $1,277,626.46 - $814,558.96

                            = $463,067.50

Therefore, the single balloon payment will be $463,067.50

8 0
3 years ago
When preparing to work on a project, teams should name a meeting leader to plan and conduct meetings, a recorder to keep a recor
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Answer:

The statement is: True.

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Teams tend to have more effective results when they select a leader, recorder, and evaluator. Those characters will play an important role to control and measure the team's performance that will lead them to achieve their objectives. The <em>leader </em>should guide the team whenever the members gather, the <em>recorder </em>registers the most relevant information of every meeting, and the <em>evaluator </em>measures the advance of the project with the help of the leader.

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Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2
Natali5045456 [20]

Answer:

Journal Entry

May 3

Dr. Allowance for doubtful accounts   $2,800

Cr. Account Receivable                        $2,800

Explanation:

When a receivable of the business is considered to be non-collectible from a customer, it is written off from the accounts. This event will decrease the account receivable balance and allowance for the doubtful accounts too. a Debit entry in the Allowance for doubtful account and a credit entry in accounts receivable is made to incorporate the effect of this transaction.

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