What would likely raise Olivia's reservation wage is if Olivia learns that the job is more challenging than she initially thought
Reservation price is the least amount of wage that a worker would be willing to accept for services rendered.
<em><u>Factors that lead to changes in reservation wages</u></em>
- Finances: a worker that is in debt or in desperate need of money would have a lower reservation wage when compared with a person that is debt-free. For example, the reservation wage of a billionaire would be higher than the reservation wage of an homeless individual.
- Nature of the job: the more challenging a job is, the higher the reservation wage that would be demanded by a worker.
- Length of unemployment: the longer a person has been unemployed for, the lower the reservation wage.
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The main difference between a general partnership and a limited partnership is that "<span>A general partnership has unlimited liability for all partners while a limited partnership has limited liability." In addition, the liability of the personal assets in a general partnership is its obligation.</span>
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Answer:
Effect on income= -$18,000
Explanation:
Giving the following information:
Granfield Company has a piece of manufacturing equipment with a book value of $36,000 and a remaining useful life of four years. At the end of the four years, the equipment will have a zero salvage value. The market value of the equipment is currently $21,200. Granfield can purchase a new machine for $112,000 and receive $21,200 in return for trading in its old machine. The new machine will reduce variable manufacturing costs by $18,200 per year over the four-year life of the new machine.
Year 0= -112,000 + 21,200= -90,800
Year 1 to 4= 18,200*4= 72,800
Effect on income= -90,800 + 72,800= -18,000
Answer:
Human capital
refers to the economic value of the combined knowledge, experience, skills, and capabilities of employees
