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.
The contract that contains provisions for surface leases related to a property is the <u>Farm</u><u> </u><u>and Ranch contract.</u>
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A void contract is a contract that fails a validity test and is therefore not a contract. A void contract is a contract that initially appears valid but may be terminated by a party deemed to have interfered in some way.
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After a reasonable period of time, the contract is considered accepted and can no longer be objected to. Other examples include real estate contracts, attorney contracts, etc. If a contract is concluded without the free consent of the parties, it will be considered a void contract.
A voidable contract is a formal agreement between two parties that can be made unenforceable for a variety of legal reasons, including Errors, Misrepresentations, or Fraud. Excessive influence or coercion.
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Answer:
Early settlement Discount: It is offered to customer to encourage them to pay earlier than the payment date.
Bulk Discount: If the customer buys over a certain quantity, he will get a discount.
Command economies have public enterprises where the government controls everything including business and production. In socialism, the means of production, distribution, and exchange are owned or regulated by the community as a whole.
Answer:
The Erie Canal
Explanation:
When it opened it dramatically decreased the cost of shipping while reducing the time to travel to the West.
