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
Yanka [14]
4 years ago
6

Suppose there is no official minimum wage and the lowest-paid workers receive $16.00/hr. If the government then enacts a minimum

wage of $10.00/hr, will it have any effect?
Business
1 answer:
valkas [14]4 years ago
7 0

Answer: There will be an effect as there might be labor shortage.

Explanation: Minimum wage is the least renumeration pay that can legally be paid by employers to their workers. It is a price floor method below which employees can't sell their labor. When a minimum wage is imposed by the government, firms are not allowed to pay less than the wage rate mandated by the government.

If the minimum wage is set below the equilibrium wage rate, quantity of labor reduces in comparison to the quantity demanded by employers. If the least paid person is paid $16 per hour and the government imposes a minimum wage of $10, There will be a shortage of labor because most people won't like to work as a result of the lower income. It also leads to lack of motivation among workers.

You might be interested in
Prices become higher when a unique and highly desirable item is auctioned because the
gulaghasi [49]
The prices become higher when a desirable item is auctioned because the demand of the item rises when more people want it and only one person can get it. When this happens the price will rise immensely because the buyer wants it more than the other people so they bid higher to win the auction.
7 0
4 years ago
What is the best place to work during the summer as a 14 year old?
Sladkaya [172]

Answer:

getting a job is fun cuz u can earn mone

Explanation:

7 0
2 years ago
Read 2 more answers
The Backwoods American Company produces approximately 20,000 parkas annually. The quality-management program the company impleme
Vsevolod [243]

Answer:

2014 Product yield will be 18,560

Explanation:

Calculation of Product Yield from 2010 to 2014

Since it begins with 83% good-quality parkas in 2010 and the percentage of good parkas was produced by 2�ch year which means we would add 2% to each of the year starting from 2011 to 2014

2010:

20,000(.83)= 16,600

20,000-16,600=3,400

3,400(.20)=680

680+16,600= 17,280

2011:

20,000(.85)= 17,000

20,000-17,000=3,000

3,000(.20)=600

600+17,000= 17,600

2012:

20,000(.87)

= 17,400

20,000-17,400

=2,600

2,600(.20)= 520

520+17,400= 17,920

2013:

20,000(.89)= 17,800

20,000-17,800=2,200

2,200(.20)=440

440+17,800= 18,240

2014:

20,000(.91)

= 18,200

20,000-18,200

=1,800

1,800(.20)

=360

360+18,200

2014 Product yield= 18,560

7 0
3 years ago
1. What class of airline service is usually offered only on large airplanes?
just olya [345]
I think United airline offer large airplanes
3 0
3 years ago
Anthony bought a new computer that had an after-market solid-state hard-drive installed. He used the computer for several months
RoseWind [281]

Answer:

A. Engage in two-way interaction between the e-business and the user

Explanation:

5 0
3 years ago
Other questions:
  • Small teams perform better than large ones because: members exchange more opinions. members do not feel like a part of the group
    13·1 answer
  • After the accounts were adjusted at January 31, 2010, the end of the fiscal year, the following balances were taken from the led
    7·1 answer
  • Which one of the following is not positive to say to a customer?
    10·1 answer
  • Sandhill Cash, Ltd. operates a chain of exclusive ski hat boutiques in the western United States. The stores purchase several ha
    6·1 answer
  • When preparing for a business trip to China, Kaylee Putbrese determined she needed to bring $5,200. How much must she borrow for
    6·2 answers
  • Suppose during 2017 that Federal Express reported the following information (in millions): net sales of $34,700 and net income o
    9·1 answer
  • Read the graph. What can the reader reasonably conclude from information in the graph?
    13·2 answers
  • Type the correct answer in the box. Spell all words correctly.
    7·2 answers
  • What could be the objectives for the training regarding improvement of customer service?​
    5·1 answer
  • Compare and contrast the terms "Fiat Money" and "Commodity Money".
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!