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Basile [38]
3 years ago
14

Considering the following labor markets. A slightly different feature of labor markets is that employees are the suppliers of la

bor and firms are the demanders of labor. Assuming an identical inward shift of the demand curve, which market will cause a higher level of unemployment due to the demand shift, as measured by the number of jobs lost due to the demand shift (not the absolute number of jobs)? Note: We are assuming we are in an industry with market power. While this is not necessarily the best assumption for a labor market, it is reasonable in the presence of a strong labor union.

Business
1 answer:
scoundrel [369]3 years ago
7 0

Answer:

i added the graph of both markets as an attachment

The answer is market B or 2. This market a higher level of unemployment.

When elasticity of supply increases, we have it that the suppliers would have greater market power.

In market B, we have it that the elasticity of supply is bigger than that if A. This means that the supplier has more market power in this market than in market A.

Since the elasticity us greater in this market, then we would have change in unemployment due to a fall in demand to be more here than in A.

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Answer: Charge a lower price after half-time

Explanation: Law of diminishing marginal utility holds that as the consumer consumes more and more units of a commodity, the incremental satisfaction derived from the successive units begins to fall after a certain point. Thus, as marginal utility begins to fall the persons willingness to pay shall also decline for the successive units. Therefore, the seller must sell the pop-corns at a lower price after half-time.

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Data related to the inventories of Alpine Ski Equipment and Supplies is presented below: Skis Boots Apparel Supplies Selling pri
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inventory value=$ 377,000.00  

Explanation:

In applying the rule of the lower cost of cost or net realizable value,we compare NRV(selling price minus cost to sell) with the replacement cost(current price), where the lower of the two is then compared against the original cost of the inventory item as done in the attached.

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Dorsey Company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the
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Exercise 5-15B Record notes receivable and interest revenue (LO5-7) On March 1, Company A provides legal services to Company B r
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Answer:

March 1: Note acceptance

Debit Note receivable $9,100

Credit Accounts receivable $9,100

<em>(To record note receivable from Company B)</em>

Sept 1: Cash collection

Debit Cash $9,100

Credit Note receivable $9,100

<em>(To record cash collection of note receivable)</em>

Debit Cash $364

Credit Interest receivable $364

<em>(To record cash collection of interest receivable on note)</em>

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Note is a promissory note with a written promise made by the borrower to the lender (payee) to pay a certain, definite sum at a specified date.

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On a monthly basis, Company A would accrue for the interest revenue as follows:

Debit Interest receivable $60.67

Credit Interest revenue $60.67

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