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alexandr1967 [171]
2 years ago
7

A. If a wage of $10.25 were to be imposed on this market, such that the market was not longer strictly competitive, what would b

e the value for labor supply?
b. At the imposed wage of $10.25 what would be the value for labor demand?
c. Provide a properly labeled and appropriately articulated Labor Market Model given the labor supply and demand equations provided and the imposed wage of $10.25.
d. Based on the labor market model you’ve now illustrated, how would you describe the current condition of this market given the imposed wage?
Business
1 answer:
enot [183]2 years ago
6 0

Solution :

Given the wage = $ 10.25 that is to be imposed to the market.

Given equation :

L_D = 500 – 45W and L_S = -200 + 25W

If the wage of $10.25 is to be imposed to the market, the value of the labor supply can be found by putting the value of the wage in the labor supply equation.

At W = 10.25

Putting this value in the above equation, the labor supply would be

L_S = -200 + 25W

L_S = -200 + 25(10.25)

     = 56.25

When W = 10.25, the value for the labor demand can be found by :

L_D = 500 – 45W

L_D = 500 – 45(10.25)

L_D = 500 – 461.25

L_D = 38.75

Therefore, the labor demand and the labor supply model is

L_D = 400 - 45 x 10.25

L_S = -200 + 25 x 10.25

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Answer: The correct answer is d) NOMINAL

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It is the contractual interest rate charged by a lender or promised by the borrower.

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3 years ago
State Road Fabricators Inc. is considering eliminating Model A02777 because of losses over the past quarter. The past three mont
ICE Princess25 [194]

Answer:

Option (C) is correct.

Explanation:

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= Direct Materials + Direct Labor + Variable overhead

= $160,000 + $80,000 + (150,000 × 75%)

= $160,000 + $80,000 + $112,500

= $352,500

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= Sales​ (1,100 units) - Manufacturing costs

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= $17,500

Therefore, if Model A02777 is dropped from the product​ line, operating income will​ decrease by​ $17,500.

6 0
3 years ago
1.1 W (5 marks) Calculate the economic order quantity (EOQ) per annum. Economic order quantity Startrek Secondary School purchas
klemol [59]

Based on the math sets purchased by Startrek Secondary School as well as its various costs, the Economic Order Quantity is 84.61 sets.

<h3>What is the Economic Order Quantity?</h3>

This can be found as:

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Carrying cost is:

= 80 x 11%

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The EOQ is therefore:

=  √(2 x 700 x 48 / 8.8

= 84.61 math sets

Find out more on the Economic Order Quantity at brainly.com/question/26814787.

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7 0
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A Federally assisted disaster relief program is trying to streamline its services and provide one-stop shopping for residents wi
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3 years ago
Mathew bought a home for $245,000 using a 20% down payment. He obtained a 30-year fixed-rate mortgage at six percent (6%)for the
kenny6666 [7]

Answer:

Principal Balance at the end of the second payment or year:

$198,350.24

Explanation:

Schedule

    start principal  start balance   interest end balance end principal

1    $196,000.00  $196,000.00  $11,760.00 $208,935.12 $197,175.12

2   $197,175.12    $208,935.12   $12,536.11 $222,646.35 $198,350.24

Cost of Home  =      $245,000

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7 0
3 years ago
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