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3 years ago

Briefly explain 3 arguments for and 3 against a national minimum wage.

Business

1 answer:

serious [3.7K]3 years ago

7 0

FOR:

increased income for workers
more workers attracted to the workforce
less strain on federal resources for those in poverty

Against

more costly for businesses
possible unemployment due to job automation
higher prices for consumers.

Here are some basic arguments. You will need to explain these a bit more for your assignment though.

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Michael Co. is a corporation that sells breakfast bars. Based on the accounts listed below, what are Michael's total trade recei

Thepotemich [5.8K]

Answer:

B. $42,000

Explanation:

Trade receivables refers total amounts that customers of a company are owing the company for goods or services sold to them.

For Michael Co., this can be calculated as follows:

Michael's total trade receivables = 3-month note due from Michael's main customer + Due and unpaid from this month's sales + Due and unpaid from last month's sales

Therefore, we have:

Michael's total trade receivables = $12,000 + $19,000 + 11,000 = $42,000.

Therefore, Michael's total trade receivables is $42,000.

7 0

2 years ago

In order to sell more goods and/or services, what must a monopoly do?

Readme [11.4K]

<span>In order to sell more goods and/or services, what must a monopoly do? Reduce price and increase output. A monopoly is when a company or a product has control in the industry. The supply or trade of this item or service is limited. For a monopoly to sell even more, they should reduce the price and increase their output because they have no competitors.

</span>

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3 years ago

Zachary Corporation expects to incur indirect overhead costs of $163,150 per month and direct manufacturing costs of $19 per uni

Arlecino [84]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Estimated overhead cost a month= 163,150

Direct manufacturing costs= $19 per unit.

Estimated production in units

January= 4,800

February= 8,600

March= 4,600

April= 7,100

Total= 25,100 units

Total overhead= 163,150*4= $652,600

A) To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 652,600/25,100= $26 per unit

B) To allocate overhead, we need to use the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

January= 26*4,800= $124,800

February= 26*8,600= $223,600

March= 26*4,600= $119,600

April= 26*7,100= $184,600

C) The total cost per unit is calculated using the allocated overhead and the direct manufacturing cost per unit.

Total cost per unit= unitary overhead + direct manufacturing cost per unit

Because the unitary allocated overhead and direct manufacturing cost per unit remain constant during the four months, the total cost per unit is the same.

Total cost per unit= 26 + 19= $45

5 0

3 years ago

Suppose independent truckers operate in a perfectly competitive constant cost industry. If these firms are earning positive econ

Deffense [45]

Answer:

The price of trucking services would fall until equilibrium prices are reached. Only normal profit would be earned in the long run

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.

In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.

8 0

2 years ago

If the quantity supplied by producers is relatively insensitive to price changes, supply is ______. Multiple choice question.

luda_lava [24]

If the quantity supplied by producers is relatively insensitive to price changes, supply is price inelastic.

Inelastic demand is demand for which the change in quantity demanded is small due to changes in price. Demand is elastic if the formula yields an absolute value greater than 1. In other words, quantity changes faster than price. If the value is less than 1, demand is inelastic.

For example, consumers are less price relatively insensitive if the product or service is unique or has few alternatives. Consumers are less price sensitive when total costs are low relative to total revenues. The total effort compared to the total cost of the final product also influences price sensitivity.

Learn more about price inelastic at

brainly.com/question/5078326

#SPJ4

<em>Your question is incomplete. please read below to find the full content.</em>

If the quantity supplied by producers is relatively insensitive to price changes, supply is ______. Multiple choice question.

price inelastic.

quantity demanded.

relative price increase.

change in price.

7 0

2 years ago

Briefly explain 3 arguments for and 3 against a national minimum wage.​

Briefly explain 3 arguments for and 3 against a national minimum wage.