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2 years ago

HELP PLEASE!

Business

2 answers:

vovangra [49]2 years ago

6 0

Very true , answer is true

STatiana [176]2 years ago

5 0

Answer:

Im pretty sure the answer is true

Explanation:

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Someone says, "Even though the equilibrium wage rate is $8 an hour in the unskilled labor market, if we impose a minimum wage of

balandron [24]

Answer:

a) The demand curve for unskilled labor is vertical.

Explanation:

Someone says, "Even though the equilibrium wage rate is $8 an hour in the unskilled labor market, if we impose a minimum wage of $10 an hour, no one currently working will lose his or her job." This person must believe that the Group of answer choices demand curve for unskilled labor is vertical.

Response to prices depend on the elasticity of demand because elasticity of demand relates to how quantity demanded will fall as a result of increase in price or in this case wage rate.

A vertical demand curve is a pictorial demonstration of a perfectly inelastic demand which means that no matter how much to you increase the price no change will occur in quantity demanded as such a good is most essential to the consumers.

Therefore if the demand for labor is perfectly inelastic, it means nobody will be laid off with increase in wage rate as firms will not change their quantity demanded for labor.

4 0

3 years ago

Read 2 more answers

Which of the following is consistent with the law of supply? A. The state of Washington has less apple regulation than Californ

GuDViN [60]

Answer:

D) A doubling of the price of salt led to 5 percent drop in the quantity of salt purchased.

Explanation:

Law of supply in economics says that when the price increases the supply too increases if other factors is is constant.

Therefore, among the given options the only option that is consistent with the law of supply is "A doubling of the price of salt led to a 5 percent drop in the quantity of salt purchased"

4 0

3 years ago

Land, a building and equipment are acquired for a lump sum of $1,000,000. The market values of the land, building and equipment

sergij07 [2.7K]

Answer:

The answer is option (b). $250,000

Explanation:

Step 1: Determine total market value

The expression for the total market value is;

Total market value=land value+building value+equipment value

where;

land value=$300,00

building value=$600,000

equipment value=$300,000

replacing;

Total market value=(300,000+600,000+300,000)=$1,200,000

Total market value=$1,200,000

Step 2: Determine fraction of the total market value that is equipment

Equipment fraction=equipment value/total market value

where;

equipment value=$300,000

total market value=$1,200,000

replacing;

Equipment fraction=300,000/1,200,000=0.25

Step 3: Determine cost assigned to the equipment

Cost assigned to the equipment=equipment fraction×lump sum

where;

equipment fraction=0.25

lump sum=$1,000,000

replacing;

Cost assigned to the equipment=(0.25×1,000,000)=250,000

Cost assigned to the equipment=$250,000

3 0

3 years ago

Gekko, Inc. reported the following balances (after adjustment) at the end of 2008 and 2007.

nevsk [136]

Answer:

Correct answer is D, P3,900

Explanation:

Begging Allowance for doubtful account is P1,500 (96,000 - 94,500). Ending balance of Allowance for doubtful account is P3,000 (P108,000 -P105,000). We can now work back the provision for doubtful accounts that the company has made during 2008.

Beginning P1,500

Add:

Collection of written off accounts 800

Total P2,300

Less:

Written off 3,200

Total (P900)

Therefore, in order for the company to have an ending inventory of P3,000, They must have set up a provision for doubtful accounts in the amount of P3,900. Attached herewith is the T-account of allowance for doubtful accounts

6 0

3 years ago

Q has an ordinary straight whole life insurance policy for $100,000. Due to a change in circumstances, Q finds that there is now

uranmaximum [27]

Answer:

Add a term rider

Explanation:

To satisfy the need for additional coverage at a low price the Q can add a term life insurance rider.

The addition of a term rider will allow Q for the additional coverage to be put into place at an affordable price, without having to acquire another policy.

As term rider is a fixed benefit policy thus, ordinary straight whole life will not allow an increase in face amount.

6 0

3 years ago