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Whitepunk [10]
3 years ago
12

Anthony currently earns $25 an hour and works 40 hours a week. When his boss offers to pay him $29 per hour, Anthony decides to

accept the offer, but decides to keep working 40 hours. What is the effect of Anthony's decision on the labor supply curve?
Business
1 answer:
timofeeve [1]3 years ago
8 0

Answer:

substitution and income effects will counteract each other totally

Explanation:

A labor supply curve is an economic analysis tool that shows the number or workers that are available to work or that can work at various wage rates.

The labor supply curve can either be bending backwards or sloping downwards or upward curving but it shows the relationship between labour and wage rates.

A labor supply curve can be affected by factors such as population, changes in social behaviour, opportunities in other markets, among other things.

From the above question, it is seen that a change in wage rate for Anthony from $25 to $29 does not affect his work hours positively of negatively. His work hours is the same despite the increase in hourly wage.

The effect of the Anthony sticking to 40 hours of work despite an increase in wage, which could have served as some motivation for him to put in more hours is his labor curve remains same. An increase in wage has done noting to affect the number of hours he works and as such his income vs work rate counters each other.

Cheers.

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Selected data taken from the accounting records of Laser Inc. for the current year ended December 31, are as follows: Balance, D
Olin [163]

Answer:

1. Cash payments for merchandise is $446,030

2.Cash payment for operating expense is $77,870

Explanation:

1. In order to calculate the Cash payments for Merchandise we would have to use the following formula:

   

Cash payments for Merchandise= cost of goods sold +decrease in accounts payable-decrease in inventory

Cash payments for Merchandise=$448,500+$4,290-$6,760  

Cash payment for Merchandise=$446,030

2. In order to calculate the Cash payments for operating expenses we would have to use the following formula:

Cash payment for operating expense=operating expense - decrease in prepaid expense +decrease in Accured

Cash payment for operating expense=$78,000 -$650+$520  

Cash payment for operating expense=$77,870

5 0
3 years ago
If a​ firm's average total cost is less than price where MR​ = MC,
bekas [8.4K]

Answer:

C. the firm should produce if its price exceeds average variable cost.

Explanation:

WHen average total cost is less that price, this means you are making a profit, and since they are in the equilibrium sate with Margina revenue being equal to marginal cost, they are in the sweet spot of production, so the only thing left for them is producing if its price exceeds average variable cost, and that would maximize their profits.

3 0
3 years ago
What features should you present when demonstrating 2022 murano’s confident cornering?
VARVARA [1.3K]

Based on the automobile analysis, the features one should present when demonstrating 2022 Murano's confident cornering include "<u>4-wheel independent suspension."</u>

<h3>What is Cornering in a vehicle?</h3>

Cornering is a term that describes the extent of the force wielded on the vehicle's center of gravity.

<h3>Other features one should present when demonstrating 2022 Murano's confident cornering </h3>

  • Intelligent All-Wheel Drive
  • Electrically driven hydraulic power steering

2022 Murano is a modern vehicle produced by Nissan Manufacturer. It comes with the latest design, swift navigation component, and easy-to-handle features.

Hence, in this case, it is concluded that the 2022 Murano is one of the latest vehicles to possess.

Learn more about the vehicle features here: brainly.com/question/17183497

8 0
2 years ago
Hamburger Co has determined that their lowest total cost production technology is $460. If machines cost $100 and workers cost $
Reil [10]

Answer:

4 workers

Explanation:

The cost that Hamburger Co can incur at this time is $460.

When producing the total cost is equal to fixed cost less variable cost.

Fixed cost includes nonmoveable assets that assist in production, such as machinery. The cost is fixed.

Variable costs are those costs that change in the course of production and can be varied depending on need.

Total cost = Fixed cost + variable cost

460= (3*100)+ variable cost

Variable cost= 460- 300= $160

Number of worker= Variable cost/ cost of each worker

Number of worker= 160/40= 4 workers

8 0
3 years ago
How is a mutual fund different from an index fund
Assoli18 [71]

A mutual fund can in fact be an index fund. However, the vast majority of mutual funds aren't similar to index funds. Most mutual funds have an objective that is different than that of an index fund. Most mutual funds do not rebalance as often as an index fund. A mutual fund often is more diversified than a pure index fund.

3 0
4 years ago
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