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ira [324]
3 years ago
13

If for a given individual, between a wage rate of $20 and $25 the ____________________ effect outweighs the ________________ eff

ect, the individual's supply curve of labor curve between those two wages will be _________________.
Business
1 answer:
lakkis [162]3 years ago
5 0

Answer:

Substitution Effect outweighs Income Effect ; Labour Supply Curve between wages will be upward sloping. OR :-

Income Effect outweighs Substitution Effect ; Labour Supply Curve between wages will be backward bending

Explanation:

Relationship between wage rate & labour supply can be explained by two effects :

  • Substitution Effect : Higher wage means more opportunity cost of leisure, so labourer would substitute leisure by working hours. This would imply increased labour supply.
  • Income Effect : Higher wage means more income. At higher income, consumer demands more of all goods, including leisure. So that would imply labourer preferring more leisure, decreased labour supply.

Wage rate change from $20 to $25 is a case of wage rate increase

If substitution effect > income effect, labour supply would increase as a result of wage rise ( from $20 to $25). So, the labour supply curve would be upward sloping

If income effect > substitution effect, labour supply would decrease as a result of wage rise ( from $20 to $25). So, the labour supply curve would be backward bending

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Rashid [163]
Idk whats your qwestion
3 0
3 years ago
PLZ HELP BRAINLIEST The interview process ends when you walk out the door of the employer’s office. Please select the best answe
nalin [4]

Answer:

False

Explanation:

The interview process may or may not end depending on the type of interview conducted by the organization.

If it is on-spot offer: On-spot offer, interview the candidates and provide a spot offer and even do verification on the same day.

If it is walk-in: It depends on the process that the organization has planned each time. Mostly there will be multiple rounds, each will be conducted in one day depending on the strength of the candidate.

Job fairs: It is possible only to conduct the initial round. So it does not end in one day.

5 0
3 years ago
Veruca sells therapeutic bath salts on the Internet. Her annual revenue is​ $52,000 per​ year, the explicit costs of her busines
koban [17]

Answer:

D. ​$38,000

Explanation:

The formula to compute the accounting profit is shown below:

Accounting profit = Annual revenue - Explicit cost

                             = $52,000 - $14,000

                             = $38,000

It shows a relationship between the annual revenue and the explicit cost. The difference between these two is known as accounting profit.

8 0
2 years ago
Suppose that currency traders expect that the value of U.S. dollarU.S. dollar will fall in the future. How will this will affect
antoniya [11.8K]

Answer:There will be increase in supply and decrease in demand

Explanation:

One of the Law of demand states that the lower the price the higher the quantity demanded and vice versa, while for supply it states that the higher the price the higher the quantity supplied and vice versa.

Since the value of US dollar is still high then the supply will be high in the market, but with the expectation of future fall, demand will be low because buyers are waiting for drop in value. There will be excess supply and lower demand.

7 0
3 years ago
After making a decision, you still have to _____. a. Celebrate your effectiveness b. List your available resources c. Implement
Reika [66]

Answer:

c. Implement a plan of action.

Explanation:

You already made your decision, so you've already considered all the outcomes and checked whether you have the resources needed for this. So the only thing left to do is to implement the plan of action

7 0
2 years ago
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