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3 years ago

What is one explanation for why this labor supply curve is upward sloping over the range of wages from low wage to high wage?

Business

1 answer:

hjlf3 years ago

6 0

Answer:

Option 1 - the opportunity cost of leisure decreases as wages decrease.

Explanation:

The labour supply curve of any occupation will always be upward sloping because when wages, (the opportunity cost of leisure) rises, the more hours of leisure a staff will relinquish to do more work.

The opposite of this is true as seen in option 1 of the question.

Opportunity costs will reduce with a consequent reduction in average wages. When fewer people want to retain their employment due to decrease in wage rates, it would lead to a fall in demand for leisure.

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Why do political parties create platforms? How are platforms useful to voters?

telo118 [61]

Political parties create platforms in order for them to create methods to resolve various issues in society. These platforms are very useful for voters as it gives them an idea on how it will help them further in various aspects - ranging from resolving violence to the point of equaling their rights.

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4 years ago

Read 2 more answers

Cost-volume-profit analysis is based on necessary assumptions. Which of the following is not one of these assumptions? Select on

ArbitrLikvidat [17]

Answer:

b. Relevant range includes all possible levels of activity that a company might experience.

Explanation:

In the cost-volume profit analysis, there are following assumptions which are described below:

1. There are two types of cost i.e variable cost and the fixed cost.

2. The sale mix remains same in case of multi product company

3. The volume of sales equals to volume of production

4. The cost is linear over the appropriate range i.e variable cost per unit and the fixed cost which remains same plus the selling price is also constant.

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3 years ago

Ceteris paribus, based on the aggregate demand curve, if the price level _______ the quantity of real output _______ increases.

TEA [102]

The answer to your question Roxannecalixto is decreases and produced.

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3 years ago

Describe China’s strategy in Africa.

Lemur [1.5K]

Answer:

The strategy for China seems to be to use the resources that Africa has in its hands from the small groups that control parts of the continent in order to fund themselves as well as help increase revenue for the countries that allow them to do so.

Explanation:

8 0

3 years ago

The following labor standards have been established... The following labor standards have been established for a particular prod

anyanavicka [17]

Answer:

Results are below.

Explanation:

Giving the following information:

Standard labor hours per unit of output 4.4 hours

Standard labor rate $ 16.70 per hour

Actual hours worked 5,200 hours

Actual total labor cost $ 87,360

Actual output 1,100 units

<u>To calculate the direct labor efficiency and rate variance, we need to use the following formulas:</u>

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (16.7 - 16.8)*5,200

Direct labor rate variance= $520 unfavorable

Actual rate= 87,360/5,200= $16.8

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (1,100*4.4 - 5,200)*16.7

Direct labor time (efficiency) variance= $6,012 unfavorable

8 0

3 years ago