Housing insurance and food stamps I think?
First, we take into account the benefit and cost given in the problem. The benefit, which is $2 is a dollar lesser compared to the cost that would be incurred should the business opt to produce one more roast beef. This, of course, tells us that an additional roast beef will just impose an additional $1 cost. Thus, the answer should be the last choice.
Answer: a. Liabilities increased by $1.0 million in 2018
Explanation:
In 2018, $9 million was used to settle the wage debt of 2017 and the remainder was used to settle the wages in 2018.
The money remaining in cash after the wage settlement was:
= 9,000,000 - 2,000,000 - 8,000,000
= -$1,000,000
This means that $1,000,000 of wages was not settled in 2018 which means that this would have to go to the Wages Payable account to signify that the company owes wages.
This account is a liability account so liabilities in 2018 would increase by $1,000,000.
Senator approxmire is Incorrect because the monopsonist's effective MRC curve becomes ABCD, which means that it<span> would choose to hire more workers, from L1 to L2, following the imposition of the minimum wage.
When monopsonist exist, the majority of workers within a certain area will be employed by a single entity. When we enacted minimum wage, indeed the company's salary expense will be increased, but this will goes along with the total productivity increased by the happy employees.</span>
