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3 years ago

A firm in a purely competitive labor market is a wage taker because

Business

1 answer:

zubka84 [21]3 years ago

6 0

Answer:

employees don't accept the wage if the firm goes for lower wages.

Explanation:

A purely competitive labor market means that employees have more bargaining power in the employer-employee relationship. They usually wouldn't settle for the wage initially offered by employers, which is mostly low at the start. They gave the impact to influence the wage, due to the labor market structure (high need for labor, or decreased number of competitive employees). Therefore, the firms in that kind of labor market are wage takers.

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Following are the transactions of a new company called Pose-for-Pics.Aug. 1 Madison Harris, the owner, invested $6,250 cash and

madam [21]

Answer:

Find attached trial balance as well the general ledgers prepared extracting trial balance

Explanation:

Preparation of trial balance could not be carried out straightaway , I had to first of all prepare the relevant ledgers before extracting trial balance.

Download xlsx

7 0

3 years ago

The average American’s real income today is about four times what it was in _________.

s344n2d4d5 [400]

Answer:

The average American’s real income today is about four times what it was in 1960. Average lifetime lengths have increased by 12%, the number of hours worked per week has decreased by 17% , and homes have more than doubled in size.

Explanation;

Economic data shows that Americans make on average, about 4 times what they were making in real income in 1960 due to exponential economic growth.

At the same time, Americans are also living a longer life by 12% on average than in 1960 when the life expectancy was around 70 years. Today it is around 78 years.

Americans are also working fewer hours than their 1960 counterparts because where in 1960 they worked for an average of 50 hours a week, recently that number hovers around 40 hours a week.

Houses built are also larger than they were in the '60s as income has increased and preferences have changed.

6 0

4 years ago

Recording purchases made for cash and on account. LO 8-1 Lewis Corporation engaged in the following transactions during June. DA

vampirchik [111]

Answer:

(A) June 4

Inventory debit 1,065

Accounts Payable credit 1,065

(B) June 15

Inventory debit 1,550

Cash credit 1,550

Accounts Payable debit 1,065

Cash credit 1,065

Explanation:

(A) there is no information or suggestion that Lweis will take the discount, we post as it was nominal, if later on it is paid within the discount period, we will recognize it. No discount is recorded

(B) Simple: increase the inventory receive and decrease cash by the amount paid.

It wasn't within the discount period. So no discount is granted.

5 0

3 years ago

The amount of joint costs allocated to product DBB-1 using the sales value at split-off method is (calculate all ratios and perc

kobusy [5.1K]

Answer:

$2,213,640

Explanation:

Calculation for the amount of joint costs allocated to product DBB-1 using the sales value at split-off method

First step is to calculate the total amount

DBB-1= 16,000 units *$25

DBB-1= 400,000

DBB-2= 24,000 units *$35

DBB-2= 840,000

DBB-2= 36,000 units *$55

DBB-2= 1,980,000

Total =3,220,000

(400,000+840,000+1,980,000)

Second step is to calculate the Weight for DBB-3

Weight for DBB-3= 1,980,000 / 3,220,000 Weight for DBB-3=61.49%

Now let calculate the Joint cost for DBB-3

Joint cost for DBB-3=$36,00,000*61.49%

Joint cost for DBB-3=$2,213,640

Therefore The amount of joint costs allocated to product DBB-1 using the sales value at split-off method is $2,213,640

3 0

3 years ago

11. This year, teachers can eam a $250 tax credit on money they spend in their classrooms. How will this tax credit affect the t

ser-zykov [4K]

Answer: A. The $250 will come directly off of the amount of taxes the teachers owe.

Explanation:

When given a tax credit of a certain amount, it means that you can deduct that amount from the taxes you owe which means that the taxes you are to pay will be reduced. If you received a tax credit of $500 for instance and you owed taxes of $2,000, your taxes would become $1,500.

In this scenario therefore, with the teachers receiving a tax credit of $250, taxes that the teachers owe will be reduced by $250.

7 0

3 years ago