We can actually infer here that an increase in labor productivity will affect equilibrium in the labor market in the following way: The demand for labor will increase and the equilibrium wage and quantity of labour will increase.
<h3>What is equilibrium?</h3>
Equilibrium refers to the state whereby opposing things are balanced in order to achieve a desired outcome.
If the labor productivity is increased, it will definitely affect equilibrium in the labor market in such a way that the demand of labor will increase.
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Answer:
Willingness to pay
Revenue
Two
Elastic
Inelastic
Explanation:
Price discrimination is when a producer or a seller charges different prices for the same product usually in different markets.
In price discrimination, a seller attempts to remove or reduce consumer surplus by charging the consumer at his willingness to pay. For price discrimination to be effective, a seller must be able to estimate the willingness to pay of consumers.
Price discrimination is successful when a seller earns higher profits when she discriminates compared to when she didn't price discriminate.
Price discrimination exists in the airline industry. One of the ways price discrimination exists in the airline industry is through charging to check bags. Customers ( people who board airplanes) are distributed into two groups- those who won't pay to check bags and those who would pay to check bags.
It is assumed that those who would pay to check their bags have a price inelastic demand because they are indifferent to paying an extra amount for their luggage.
Inelastic demand is defined as when a small change in price has no effect on quantity demanded.
While it is assumed that those who won't pay to check their bags have an elastic demand because they are unwilling to pay extra to check their luggages.
Elastic demand is when a change in price has effect on quantity demanded.
This is an example of market development growth.
<h3>
What is market development?</h3>
- Market segmentation for existing products is identified and developed as part of a growth plan.
- A development plan focuses on non-buying clients in the segments that are already targeted.
- Additionally, it aims to reach fresh markets of clients.
<h3>What is custom?</h3>
- A custom is a long-standing behavior of an individual or group (such as a daily routine) (such as a cultural practice).
- When used as an adjective, custom designates something created to specific requirements, especially something distinctive.
- Custom-made is a synonym for it.
<h3>What is market penetration?</h3>
- When a product or service is successfully sold in a particular market, this is referred to as market penetration.
- The sales volume of an existing good or service in relation to the overall target market for that good or service is used to measure it.
<h3>What is product development?</h3>
- New product development in business and engineering refers to the entire process of launching a brand-new product, updating an already-available product, or launching a product in a new market.
- Product design, along with many commercial factors, is a key component of NPD.
<h3>What is diversification?</h3>
- Diversification in finance refers to the process of allocating capital in a way that limits exposure to any one specific asset or risk.
- Investing in a variety of assets can help lower risk or volatility, which is a frequent step towards diversification.
Therefore, this is an example of market development growth.
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Answer:
$15,000
Explanation:
Total Assets-Remaining liabilities=Solvency
$232,000-$217,000=$15,000
If the waiver of loan makes the taxpayer solvent,then the extent by which he is solvent will be included in his/her gross income.
Answer:
The answer is "ECOA".
Explanation:
The Equal Credit Opportunity Act strictly prevents a lady from paying when she has a kid. It implies electronically gather information in clinical trials. The quality of data can be greatly improved whilst satisfying regulatory requirements. Inside this context, technologies including mobile phones, tablets or even the Web allows participants in the study, doctors, and caregivers to submit health results immediately.
