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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

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On September 1, 2003, Time Magazine sold 600 one-year subscriptions for $81 each. The total amount received was credited to Unea
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Answer:

Total subscriptions revenue for the period= 4 months (September 1 - December 31)  

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3 years ago
Question 1 (8 points) Ocean City Kite Company manufactures & sells kites for $7.50 each. The variable cost per kite is $3.50
Alika [10]

Answer:

The correct answer is $220,000.

Explanation:

According to the scenario, computation of the given data are as follows:

Selling price = $7.5

Variable cost = $3.5

Annual sales = 55,000 kites

We can calculate the fixed cost by using following formula:

Fixed cost = Annual sales × ( Selling price - Variable cost )

Fixed cost = 55,000 × ( $7.5 - $3.5 )

= 55,000 × $4

= $220,000

4 0
3 years ago
Interest is to a loan as _________ is to a stock. * asap
Mkey [24]

Answer:

BOOT

Explanation:

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3 years ago
Read 2 more answers
When deciding on output levels, members of a cartel A. Set their output where MR=MC B. Produce the same level of output as if th
siniylev [52]

Answer: Option(D) is correct.

Explanation:

Correct option:  Act as if they were monopolies.

Cartel is a group of few firms that work towards the common goal. Because all the cartel members works together, that's why they act like a monopolies.

They decided to produce at a level where their combined marginal revenue is equal to the combined marginal cost.

Because they behave like a monopolist, so they sell lesser quantity at a higher prices than would be in a perfectly competitive market.

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3 years ago
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