The three major economic systems are capitalism, socialism, and communism. Hope that helps!
Answer:
The correct answer is D
Explanation:
Minimum wage is the remuneration which is the lowest that the employers could legally pay to their workers. In short, the price or remuneration which is below that the workers could sell their labor.
Unions and laws support the minimum wages as the higher amount of the minimum wage result in decrease or fall in the job opportunities of the applicants who are low skilled . And few workers wants to hire them so that they will not be able to demand the better working conditions.
So, it is different from the efficiency wages in the minimum wages because it prevent the firms or the companies from lowering the wages in the presence of the surplus of the workers.
Answer:
social media
Explanation:
social media is cheap and almost every one can access it . email will only reach fewer people
Answer:
c. $300; negative $100
Explanation:
Accounting profit is total revenue less total cost or explicit cost.
Accounting profit = Total Revenue - Total cost
Total revenue = price x quantity
100 × $10 = $1,000
Total cost = $700
Accounting profit = $1000 - $700 = $300
Economic profit is accounting profit less implicit cost or opportunity cost.
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
Implicit cost = $20 × 20 = $400
Economic profit = $300 - $400 = $-100
I hope my answer helps you
