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:
the selling price of the product is $63
Explanation:
The computation of the selling price of the product is as follows:
As we know that
The contribution margin ratio = Contribution margin ÷ Selling price
20% = $12.60 ÷ Selling price
So the selling price is
= $12.60 ÷ 20%
= $63
Hence, the selling price of the product is $63
This is the answer but the same is not provided in the given options
We simply applied the above formula so that the correct value could come
And, the same is to be considered
The purchase amount that Icon Co. would record on April 2 would be: <u>c. $4,000</u>.
<h3>What is the purchase amount to be recorded?</h3>
The purchase amount that should be recorded on the date of purchase is the amount of the transaction. This does not take into account the return and discount which happened later.
This implies that Icon Co. will reduce the purchase amount on April 4 when half of the goods were returned with a contra entry. And discount will be based on the balance of $2,000 instead of $4,000.
<h3>Data and Calculations:</h3>
Purchase on April 2 = $4,000
Purchases Return on April 4 = $2,000
Thus, the purchase amount that Icon Co. would record on April 2 would be: <u>c. $4,000</u>.
Learn more about recording credit purchases at brainly.com/question/5651500
Answer:
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Answer:
Lawyers fees would probably decrease
Explanation:
If there's a large supply of lawyers than the demand for them will drop, causing fees to drop.