Answer:
Option A, “the substitution effect dominates the income effect” is correct.
Explanation:
If the real wage increases then the opportunity cost for leisure will also increase. Therefore, an increase in real wages and a rise in the opportunity cost of leisure induce labor to supply more workforce or labor force. This is known as the substitution effect. Moreover, when this substitution effect is greater than the income effect then the supply curve for labor is upward sloping.
Answer:
Perfectly inelastic
Explanation:
A demand is perfectly inelastic when quantity demanded does not change in response to a change in price.
The cause of their disagreement is "Language".
Language can be a hindrance when distinctive words and expressions mean diverse things to various gatherings of people. For this situation, it is likely the designers think the specialized terms add importance to the advertisements, while the promotion individuals surmise that they are scary and confounding. The majority of this focuses to the possibility that Language is the correspondence hindrance here– similar words mean distinctive things to various people– making "Language" the right reaction. Feeling squares data when solid emotions mutilate the impression of the beneficiary. Particular discernment is the one-sided view of actualities with respect to a collector. Sexual orientation mutilates correspondence when guys and females neglect to value each other's perspective.
Answer:
d. all of the answers are correct
Explanation:
Cost allocation is being done:
1) to influence management behavior and thus promote goal and managerial effort,
2) to measure inventory costs and to know of goods sold on a product or project,
3) to justify cost (e.g to justify an accepted bid).
For example, if you are to determine the amount of electricity consumed at a particular period, the number of units consumed determines the total cost to be paid for the electricity consumed. In such an instance, the number of units of electricity consumed is a Cost Driver.
A cost driver is the most appropriate way of calculating or determining a specific cost.
Variable cost drivers can come in the form of hourly costs, costs per unit, or batch costs, among others.
Cost drivers can be fixed costs, such as in the case of set-up costs.
