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3 years ago

At what wage rate will there be excess labor supplied in the market?

2 answers:

7 0

Answer:At $25 per hour there will be excess of labor supplied as more laborers are willing to work at high wages but not enough coffee shops are willing to hire at that wage

Explanation: PLATO

34kurt3 years ago

6 0

If the wage is free to adjust in response to market forces it will move to We, where the demand forlabour equals the supply. When the wage is above We, more labour will be presented for employment than firms in the industry can profitably hire. It will pay workers to lower their wages to obtain employment in the industry.

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When a natural monopoly exists in a given industry, the per-unit costs of production will be?

alina1380 [7]

They will be lowest when a single company produces all of the output in an industry. This will be because the one company is doing all the production and does not have to compete with any other companies trying to enter the marketplace. The lack of new companies will allow the monopolizing company to set their own prices for costs of production.

4 0

3 years ago

Suppose that Fizzo and Pop Hop are the only two firms that sell orange soda. The following payoff matrix shows the profit (in mi

S_A_V [24]

Answer: See explanation

Explanation:

A pay off matrix has been attached.

If Fizzo decides to advertise, it will earn a profit of ($8 million) if Pop Hop advertises and a profit of ($15 million) if Pop Hop does not advertise.

If Fizzo decides not to advertise, then, it will earn a profit of ($2 million) if Pop Hop advertises and on the other hand, a profit of ($11 million) if Pop Hop does not advertise.

If Pop Hop advertises, then Fizzo makes a higher profit if it chooses (to advertise). On the other hand, if Pop Hop doesn't advertise, then Fizzo will make higher profit if it chooses (to advertise).

In a scenario whereby the firms act independently, the strategies that they will choose is that that both of the firms will prefer and choose to advertise.

8 0

3 years ago

Henri earned a salary of $50,000 in 2001 and $70,000 in 2006. The consumer price index was 177 in 2001 and 265.5 in 2006. Henri'

gladu [14]

Answer:

Henri's 2006 salary in 2001 dollars =$46,666.66

Explanation:

A rise in the price index implies inflation

Inflation is the increase in the general price level. Inflation erodes the value of money.

This price index is the weighted average price of a basket of goods and services consumed by a typical consumer. It is used to measure the rate of inflation.

So we can determine the salary in the base year value as follows:

2006 Salary in the base year terms=

CPI base year/CPI in the current year × salary in the current year

CPI base year- 177, CPI in the current yea- 256.5,

Salary in the current year - 70,000

Henri 2006 Salary in 2001 Dollar

=177/265.5 ×70,000/265.5 = 46,666.66

Henri's 2006 salary in 2001 dollars =$46,666.66

8 0

4 years ago

What is the first thing you should do when you begin writing your business plan?

miv72 [106K]

Identify your target audience and needs

6 0

4 years ago

Read 2 more answers

write a response that describes how knowledge of the accounting equation and financial statements discussed in week 1 might be u

alexgriva [62]

The knowledge on basic principles of accounting may be useful for a Medical officer Manager because it allows him to better understand the flow of the business from the transaction to people handling skills during normal business activities. These make it easier for him to get acquainted with what is to be dealt with during normal business talks.

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4 years ago