Answer:
Explanation:
The effect of this policy will lead to both the leftward shift in the labor demand curve and the higher minimum wage will
lead to an increase in the unemployment rate because once the minimum wage increases, firms will have to pay higher salaries and this will lead to higher costs and therefore firms will retrench employees
Answer:
Process Costing
Explanation:
Process Costing allows so many units to be in production at the same time which are identical. The cost of each unit can be determined by calculating the average price using to total units produced.
Answer:
Yes I would
Explanation:
We have these costs
Variable cost:
Materials = 600 dollars for each of component.
Labour is at a rate of 150 dollars each
For fixed cost depreciation = 300 dollars
Now we have to calculate the average variable cost
Cost of production of 1 pc + labour price of 1
= 600 + 150
AVC = 750
The sales price for each of the 10000 pc = 800 dollars
Now we can see that price p is greater than or equal to avc. 800 >=750
So the I have to accept to produce these pcs at the rate of 800 for 1 pc.
800-750 = 50
50x10000 = $500000 from the sale of the 10000 pcs
Answer:
Hours of labor or number of workers are common ways of measuring a company's productivity.
Explanation:
Productivity refers to output per unit of input. It means efficient usage of labor, capital, land, materials, resources, energy and so on in the production of goods and provision of services. In other words, it is the efficiency of the production process or measurement of efficiency.