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bekas [8.4K]
3 years ago
8

If the labor supply curve is very elastic, a tax on laborA. raises enough tax revenue to offset the loss in welfare.B. has a lar

ge deadweight loss.C. results in a large tax burden on the firms that hire labor.D. has a relatively small impact on the number of hours that workers choose to work.
Business
1 answer:
Burka [1]3 years ago
6 0

Answer: .B. has a large dead weight loss

Explanation:

 The labor market basically has two forces pulling against each other, we have firms who demand labor and we have workers who are Suppliers of labor. Firms will want to hire more labor at a lower wage price while more workers will want to work when the wage price is higher as the law of supply stipulates  

The law of supply states that more is supplied at a higher price, now using the same law on the supply of labor we conclude that more labor will be supplied at a higher Wage which represents Price. A Labor Market is equilibrium when Quantity Demanded Equals Quantity Supplied. Elasticity measures the sensitivity of Demand or Supply to Price Changes. The amount of Change in the Quantity supplied or demanded depends on how elastic the demand or supply is to wage Price changes

When Supply Curve is highly elastic means a small change in wage price will have a huge impact on the Total amount Labor supplied. When government imposes Tax on labor, The Wage price will decrease and workers will now earn a wage net of tax,

The Supply curve is highly elastic meaning a small decrease in wages caused by a tax imposed on labor  will only lead to a huge decrease in the quantity of labor supplied because more people will choose not work. The tax imposed on labor creates a huge dead weight loss in the labor market because the market is no longer in equilibrium. The Quantity of labor supplied is far less than the quantity of labor demanded.

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Skyline Florists uses an activity-based costing system to compute the cost of making floral bouquets and delivering the bouquets
Jet001 [13]

Answer:

1. $9.07

2. $25.5

Explanation:

(a) Total Cost:

= 260,000 × 60% (Wages and Salaries) + 60,000 × 50% (Other Overhead)

= $186,000

Cost of Wages and Salaries and Other Overheads Charged to Each Bouquet:

= Total Cost ÷ Total Bouquets

= $186,000 ÷ 20,500

= $9.07

(b) Total Cost:

= 260,000 × 30% (Wages and Salaries) + 60,000 × 40% (Other Overhead)

= $102,000

Cost of Wages and Salaries and Other Overheads Charged to Each Delivery:

= Total Cost ÷ Total Delivery

= $102,000 ÷ 4,000

= $25.5

6 0
3 years ago
Which factor supports maintaining a dual income?
Bad White [126]
The solution is to open joint bank account. Joint account will allow you to deposit or withdraw cash from your dual income without any fear that one account will get lost. This will help you manage your money and also share it to one of your family members. Your income is safe with you having a joint account because you can monitor it in one transaction only.
3 0
2 years ago
Read 2 more answers
Which step in the STP process develops descriptions of the different segments, which helps firms better understand the customer
Nookie1986 [14]

Answer: Step Four - Construct Segments Profile

Explanation:

When practical market segments have been resolved, segment profiles are then created. Segment profiles are point by point depictions of the purchasers in the segments – portraying their needs, behaviors, preferences for the goods, socio economics, shopping styles, etc. This is much similarly that the age accomplices of Baby Boomers, Generation X and Generation Y have a name.

7 0
2 years ago
The idea that it is often necessary to negotiate a shared meaning in order for satisfying communication to occur relates to whic
tresset_1 [31]

Answer:

Letter c is correct.<u> Environment and noise affect communication.</u>

Explanation:

The communication process is extremely relevant to any business. It is through communication that the action process begins, the expression of ideas and objectives, the exchange of knowledge, interaction and other factors that help the organization to achieve its objectives and goals.

Therefore, in this matter, the most appropriate alternative is that the organizational environment and noise affect communication.

This is because the organizational environment is a reflection of how the communication process is carried out within a company. Through clear, direct and ethical communication, it is possible to transform the company's internal and external environment, the way employees work, create value, improve the perception of stakeholders, reduce noise, and improve the coordination of all processes organizational, which ensures greater possibilities for the organization to be well positioned in the market in which it operates.

6 0
3 years ago
Rainbow Paints Inc. is a leading paints company in Pakistan. In June 2019, the higher management of the company deliberated and
kykrilka [37]

Answer:

Rainbow Paints Inc., Pakistan Vs XingPe Chemicals, China

1. Win-Lose Approach:  Rainbow Paints Inc. was under an immense pressure to deliver on "production targets for the 2020."  However, it approached the negotiation aggressively and assertively, blaming the Chinese company for its failure to deliver the required chemicals for its production.  It did not care about the Coronavirus pandemic that is ravaging the world.  It should not be confrontational in its approach.  Business relationships are not maintained in such atmospheres.  It must think long-term and not short-term.  It should have tried to reduce its losses by minimizing its costs, using all possible means.  Rainbow Paints, in its blindness, is even seeking for not only a compensation but the return of their payments, to ensure that the Chinese company bears the losses wholly.  Such a negotiating strategy lacks common sense, fairness, and friendly business relationships.

2. Win-Win Approach:  XingPe Chemicals approached the negotiation, seeking understanding.  It cannot be blamed for the pandemic, unless it should have supplied before the outbreak.  Its approach contrasts with the confrontational, aggressive, and assertive method being followed by the Pakistani company.  Its approach is integrative and accommodating.  It is even willing to share the losses of Rainbow Paints while Rainbow Paints was trying to push all of the losses to it.

Explanation:

There are many approaches to negotiation.  Some prefer the Win-Lose, Lose-Lose, Compromise, or Win-Win approaches.  The best for long-standing business relationships is the Win-Win approach, because it integrates and accommodates the interests of both parties.  However, different situations call for the approach or combination of approaches to adopt.

5 0
2 years ago
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