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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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The competitive equilibrium rent in the city of Lowell is currently $1,000 per month. The government decides to enact rent cont

Zarrin [17]

Answer:

The answers are:

For someone who is currently renting an apartment, he or she should be better off with rent control as long as they keep renting the same apartment. They will pay a lower price.
For someone who is moving to Lowell, he or she will be worse off because the quantity supplied for apartments on Lowell will decrease (price ceilings always decrease the quantity supplied). So it will be very hard for him to find a suitable apartment.
For the landlord that abides by the law, he will be worse off because he will lose money. He should be earning more money but due to the rent control, his earnings decrease.
For the landlord that decides to ignore the, he will eventually be worse off by his actions, since illegal activities always have a sour ending. He will eventually be caught and will probably have to pay a fine of some sort.

3 0

4 years ago

Most of a distribution manager's decisions must balance cost reduction against which other benefit?

AVprozaik [17]

Answer: Superior customer service

Explanation:

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8 0

3 years ago

The Office Supplies account had a balance at the beginning of year 3 of $4,000 (before the reversing entry). Payments for purcha

snow_lady [41]

Answer:

a. Office Supplies Expense a/c Dr. $750

Explanation:

We are provided that office supplies are recorded as an expense, in that case entry will be:

Office Supplies Expense A/c Dr.

To Cash A/c

After this, there is a valuation of closing balance of supplies in hand.

As per books = $4,000

As per inventory of supplies in hand = $4,750

The difference = $4,750 - $4,000 = $750

This will be recorded in Office supplies expense as in this account only the supplies are recorded.

Therefore correct option is

a. Office Supplies Expense a/c Dr. $750

4 0

3 years ago

What type of Businesses organization has limited liability ?

aleksandrvk [35]

Answer:

limited liability company or LLC is a hybrid business structure that provides the limited legal liability of a corporation and the operational flexibility of a partnership or sole proprietorship.

Explanation:

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3 years ago

You've found an Internet article that supports your view of a research subject. The author seems to have excellent credentials,

Nat2105 [25]

I believe the answer u are looking for is c......You can use the reference to support your claim. however be careful that you still use updated information as well

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3 years ago