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lidiya [134]
3 years ago
5

If adult workers and teenagers are complements, the elimination of the minimum wage for teenage workers would cause the demand f

or adult workers to:
Business
1 answer:
Over [174]3 years ago
8 0

Answer:

Increase

Explanation:

The elimination of minimum wage, means that the wage or "price" for teenage workers will decrease.

Next we can use the information that both type of workers are complements. Remembering that two goods are complements if the cross price elasticity is negative. This means that if the price of one good decreases the demand for the other will increase.

Since the price for teenage workers decreased by the elimination of minimum wage that will make the demand for adult workers to increase.

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Luba_88 [7]

Answer:

(1) Pe =0.3Pm + 0.15 Pa

Pm = 0.7Pe + 0.2 Pm + 0.3 Pa

Pa = 0.3 Pe + 0.5Pm +0.55 Pa

(2) The free variable Pa = 100

Explanation:

Solution

We create a table of outputs using the given percentages economy distribution

Energy         Manufacturing       agriculture     Purchased by

0                       0.3                       0.15                 energy

0.7                    0.2                       0.3                  manufacturing

0.3                    0.5                       0.55                Agriculture

Let Pe Pm, Pa represent the prices for each sector

We then create an income equation using the expenses of the table above

Now,

Pe =0.3Pm + 0.15 Pa

Pm = 0.7Pe + 0.2 Pm + 0.3 Pa

Pa = 0.3 Pe + 0.5Pm +0.55 Pa

Note: Kindly find an attached copy of part of the solution to the given question and complete question to of this exercise below

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Because the product, while is having a loss, their contribution cover is enought to cover at least the avoidable fixed cost.

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