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olganol [36]
3 years ago
14

Under what elasticity conditions would the following be true? "Increasing the minimum wage will result in a decrease in employme

nt for workers who now earn less than the new minimum wage."
Business
1 answer:
nydimaria [60]3 years ago
5 0

Answer:

The elasticity of labor is elastic (low elastic).

Explanation:

The given situation or condition, the rise in minimum wage will lead to decrease the employment for the person who earns lower than new minimum wage shows that the labor demand is elastic or elasticity for the labor is low because the increase in the minimum wage lead discourages to the producer to hire unskilled labor. Therefore, employment will decrease with an increase in the minimum wage.

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What do you feel is the most important thing that you can do when saving money and what are some other ways you can save money.
Gnesinka [82]
Check your stuff to see what you already have and what you need.To go around buying everything you want just because its pretty.
4 0
3 years ago
John House has taken a $250,000 mortgage on his house at an interest rate of 6 percent per year. If the mortgage calls for 20 eq
stiks02 [169]

Answer:

$21,796.14

Explanation:

Use the Time Value of Money techniques to calculate the amount of each installment (PMT)

PV = $250,000

i =  6 %

n = 20

P/yr = 1

FV = $0

PMT = ?

Using a Financial calculator to input the values as above, each annual instalment/payment will be $21,796.14.

8 0
3 years ago
To avoid accepting projects that actually should be rejected, a company should ignore intangible benefits in calculating net pre
Alex Ar [27]

Answer:

false

Explanation:

Net present value is the present value of after-tax cash flows from an investment less the amount invested.  

Only projects with a positive NPV should be accepted. A project with a negative NPV should not be chosen because it isn't profitable.  

When choosing between positive NPV projects, choose the project with the highest NPV first because it is the most profitable.

Monetary amounts should be allocated to intangible benefits and incorporated into the calculation of NPV

8 0
3 years ago
From the standpoint of economic efficiency, markets tend to provide a. less of a public good than would be efficient. b. more of
schepotkina [342]

Answer:

A) less of a public good than would be efficient.

Explanation:

The main characteristic of free markets is that the private participants (suppliers and consumers) decide how to allocate resources. They allocate resources in a way that their utility is maximized: suppliers maximize their profit while consumers maximize satisfaction. The problem with private goods  is that they do not maximize profits for the suppliers, therefore, very few or no suppliers are willing to supply them resulting in a shortage.

6 0
3 years ago
Soy Products ​(Upper K​SP) buys soybeans and processes them into other soy products. Each ton of soybeans that Upper KSP purchas
galben [10]

Answer:

See attachment for 1 and 2

Explanation:

Number 2 (continuation)

ISP should process the soy meal into soy cookies because that increases profit by $263. However, ISP should sell the soy oil as is, without processing it into the form of Soyola, because profit will be $56 higher if they do. Since the total joint cost is the same under both allocation methods, it is not a relevant cost to the decision to sell at splitoff or process further.

5 0
3 years ago
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