Answer:
The greater labor's share of production costs, the <u>higher</u> elasticity of demand for labor.
When labor costs are a high share of total production costs, the elasticity of labor demand is higher. For example, customer service jobs like fast foods, or gas pumping, have high labor costs as a percentage of total production costs, and these sectors have a very elastic labor demand.
you would expect the demand for human ski instructors to be less elastic the demand for human factory workers.
In the year 2035, with robots having replaced most humans in factory jobs, occupations such as ski instructor, or dance instructor, or musician, would have a low labor demand elasticity because these skills are not easily learned, or easily replicated by a robot, meaning that the humans specialized in those jobs will be more demanded, and the demand for their labor will be more stable.
Answer:
This equals $12,256.70 (230 x $50.70 + 230 x $2.59)
Explanation:
The value of the portfolio on May 3 is the sum of the market value of the shares plus the sum of the returns in form of dividends to be received.
This value adds the weight of the investment obtained by multiplying the total shares held with its market price to the expected dividend returns on the given date.
Answer: Partnership Agreement, State Certification, Business name registration, Business bank account name opening.
Explanation:
A limited partnership is a business between two partners; one being the general partner who is accountable for all activities in the business and the other being the Limited Partner who is basically there for the money he invested in the business.
In addition to the tax identification, the Partnership agreement must be drafted so as to clearly describe the structure of the business as well as the role and rights of all partners involved.
The State Certificates which contain details of the business name, and its address as well as the names and addresses of the involved partners and agents is also required. The state would charge a fee to have this certificate registered.
Business Bank Account Name would be needed and it would be recognized as the official account where monies could be paid. An Employer Identification Number is also required if there are employees to be paid.
Business Name Registration - This registration is required when a name which is not the last name of the partners is chosen for the business.
Answer:
$20,000
Explanation:
Calculation for Sweet's economic profit
First step is to calculate the Explicit Costs
Using this formula
Explicit Costs = Rent on building +Payment of Salary to employees + Utilities + Goods bought
Let plug in the formula
Explicit Costs = ($30,000)+ ($40,000) + ($20,000) +($10,000)
Explicit Costs =$100,000
Last step is to calculate Sweet's economic profit
Using this formula
Economic profit = Total Revenue – (Explicit Costs + Implicit Costs)
Let plug in the morning
Economic profit = $135,000 - $100,000 - $15,000
Economic profit= $20,000
Therefore Sweet's economic profit will be $20,000
Answer:
$2,540
Options are inconsistent with given question
Explanation:
Allowance for uncollectible accounts is a contra asset account and it has credit nature. It needs to be debited to decrease the balance and credited to increase the balance. Balance of this account is adjusted in the account receivable to report the net receivable balance in the balance sheet.
As per given data
Beginning allowance for uncollectible accounts balance = $3,700
Write off is the adjustment mad in this account and it needs to be debited in this account, this transaction will reduce the balance.
Adjusted Balance = $3,700 - 2,700 = $1,000
Credit sales = $118,000
Estimated allowance for uncollectible accounts balance = $118,000 x 3% = $3,540
As allowance for uncollectible accounts has already have balance of $1,000, Bad debt expense for the year is $2,540 ($3,540 - $1,000).
