1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
When a shotgun fires, a sequence of events takes place. After the hunter pulls the trigger, what is the next event in the sequen
Strike441 [17]
THe firing pin strikes the primer. That comes first, the spark ignites the gun powder, the powder burns into a gas, the gas is shot out of the barrel
3 0
3 years ago
Read 2 more answers
Shelly Sanders gets a loan for $3,000 and repays the loan in 12 monthly payments of $258 per month. Under the APR formula, what
alexandr402 [8]

Answer: $8

Explanation:

Total loan is $3,000

Monthly instalments of $258

Tenor of 12 months

Total interest paid on loan = $258 x 12= $3,096

Interest = $3,096 - $3,000 = $96

Apr = $96/$3000= 0.032

= 0.032 x 100

= 3.2% annual rate

= 3000 x 3.2%

= 96/12 = $8

4 0
3 years ago
Read 2 more answers
Many workers in the Transportation and Logistics career cluster face danger because
nignag [31]

Answer:

a. they use heavy equipment and handle dangerous cargo and materials.

Explanation:

Workers in the transport and logistics careers operate heavy machinery, which subjects them to potential incidents and accidents that can cause severe bodily injuries or fatalities.

The workers move heavy and bulky leads. Their duties require them to lift, pull, or push the heavy cargo. They use ladders and other escalators to lift cargo to higher grounds. These acts pose the danger of falling or being knocked on by the load.

Transport and logistics workers handle hazardous chemicals and highly flammable substances.  The workers and their supervisors must ensure to abide by all safety regulations to stay safe in the workplace.

3 0
3 years ago
Read 2 more answers
Shelley was initially moderately in favor of a proposal to build a city bike path. At a meeting, she learns that not only will t
Gnesinka [82]

Answer:

The appropriate response is "Persuasive arguments".

Explanation:

  • A noninteractional concept or philosophy of community judgment predicting choice results via cognitive or conceptual claims produced by individuals before the debate is determined as Persuasive arguments theory.
  • It doesn't see dialogue as an important element of judgment results, although as a potential mechanism for facilitating communication.

Thus the above is the right answer.

5 0
3 years ago
In January of 2018, the Phillips Company purchased a patent at a cost of $100,000. In addition, $10,000 in legal fees were paid
soldi70 [24.7K]

Answer:

The answer is: $113,000

Explanation:

By 2020, Phillips Company had already amortized $22,000 of the patent expenses (2 years x [10% x ($100,000 + $10,000)]). Since it lost its patent defense in 2020, it will now have to write off $113,000 ($88,000 pending amortization + $25,000 in legal fees) for the adjustment of its 2018 income.

5 0
3 years ago
Other questions:
  • How should contact be established with a flight service station, and what service would be expected?
    10·1 answer
  • Intel pioneered microprocessor development in the 1970s and introduced its microprocessor well ahead of competitors. According t
    6·1 answer
  • Under the georgia safety responsibility law, if you cannot satisfy a claim filed against you for damages resulting from a motor
    10·2 answers
  • If we accept "consumer satisfaction" as the objective of our macro-marketing system, this means that: consumer educators should
    12·1 answer
  • Mills Corporation's balance sheet included the following information: Accounts Receivable $ 560,000 Less: Allowance for Doubtful
    8·1 answer
  • Jeanne is 54 years old. She had worked as a medical research librarian for ten years before quitting in her late forties. She wa
    9·1 answer
  • What was the firm's end-of-year cash balance? Recreate the firm's cash flow statement to arrive at your answer. Write out your a
    10·1 answer
  • Karla has graduated from high school this year and has a steady job. She feels ready to move into her own space and has $900 in
    10·1 answer
  • A measure of risk-adjusted performance that is often used is the Sharpe ratio. The Sharpe ratio is calculated as the risk premiu
    15·1 answer
  • The following preliminary unadjusted trial balance of Ranger Co., sports ticket agency, Errors in trial balance
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!