Answer:
The correct answer is option a. 
Explanation:
Minimum wages can be defined as the minimum level of wages that an employer is supposed to pay to workers for their work. It cannot be reduced through an individual contract or collective agreement.  
Minimum wages are fixed above the equilibrium level of wages. At this level, the demand for labor is lower while supply is more because of high wages. This creates surplus labor in the market.   
 
        
             
        
        
        
Answer: $252
Explanation:
GDP is calculated by summing up the value of final goods and services in a country within a period. This means that intermediate values are not included and this is done to avoid double counting. 
The GDP contribution here therefore will be the value of the meals created;
= 50 * 5.04
= $252
 
        
             
        
        
        
Answer:
<u>tutoring opportunity cost: </u>20,000 consulting job
<u>consulting job opportunity cost:</u> 5,000 + travel from tutoring
<u>collegue:</u> 20,000 consulting job
Explanation:
opportunity cost: cost of the best rejected project, proposal or income
income from work as a consulting job: 20,000
income from tutoring: 5,000 ( externality of travel around the world)
collegue cost of 5,000
The tutorng has an externality of travel around the world. We can measure how much Allison values that chances but it is something she will consider when picking her plan.
 
        
             
        
        
        
Answer: $88,889
Explanation:
Based on the information given in the question, the cost of Human Resources that would be allocated to Cafeteria will be calculated thus:
Number of employees (Human Resources to departments) 
= 20 + 100 + 150 
= 270 employees
The Human Resources cost would be allocated to Cafeteria will be:
= $1,200,000 / 270 x 20 
= $88,889