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baherus [9]
3 years ago
11

Suppose when you are offered $7.00 per hour to work in the campus library, you choose not to work, but when you are offered $10.

00 per hour, you accept a part-time position. your behavior can best be explained by the fact that your supply of labor curve is:
Business
1 answer:
Leno4ka [110]3 years ago
3 0
You develop your labor (human capital)

Due to scarcity, choices must be made. Every choice has a opportunity cost

Everyone's goal is to make choices that maximize their satisfaction. Everyone acts in their own "self-interest"

Everyone makes decisions by comparing the marginal costs and marginal benefits of every choice.

You found it to be scarce that you were offered $3.00 dollars more than the first offer.
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Willow Creek Nursery, with an authorization of 72,000 shares of preferred stock and 210,000 shares of common stock, completed se
GaryK [48]

Answer:

Explanation:

The journal entries are shown below:

1. Cash A/c Dr $4,000,500

         To Common stock $2,540,000

         To Paid-In Capital in Excess of Par-Common Stock  $1,460,500

(Being issuance of the common stock is recorded)

2. Land A/c Dr $860,000

   Building A/c Dr $2,533,000

        To Preferred Stock  $2,925,000

        To Paid-In Capital in Excess of Par-Preferred Stock  $468,000

(Being issuance of the preferred stock is recorded)

All other information which is given is not relevant. Hence, ignored it

8 0
3 years ago
Haver Company currently produces component RX5 for its sole product. The current cost per unit to manufacture the required 65,00
balandron [24]

Answer:

1. The total incremental cost of making 65,000 units of RX5

Total Direct Material + Total direct Labour + Variable Overhead cost

Total Direct Material = 65,000 units * $5 = $325,000

Total Direct Labour = 65,000 units * $9 = $585,000

Variable Overhead cost = $65,000 * 10 = $650,000. $650,000 *(1- 80%) = $650,000 *20% = $130,000

Hence, The total incremental cost of making = $325,000 + $585,000 + $130,000 = $1,040,000

2. The total incremental cost of buying 65,000 units of RX5 =

The cost to buy the units = 65,000 units * $18 = $1,170,000

3. The company should be making the RX5 because the total cost of making the 65,000 unit of RX5 is lesser than cost of buying the 65,000 units of RX5

4 0
3 years ago
Relevant Cash Flows Kenny, Inc., is looking at setting up a new manufacturing plant in South Park. The company bought some land
Marta_Voda [28]

Answer: $38,410,000

Explanation:

When recording investments in fixed assets, it is best to use the market value at the time.

The market value of the land will therefore be the relevant cost here.

Initial investment in fixed assets = Market value of land + Cost to build plant + Cost of grading

= 7,700,000 + 29,300,000 + 1,410,000

= $38,410,000

8 0
3 years ago
Suppose the state of Florida passes a law that increases the tax on alcoholic beverages. As a result, resi-dents in Florida star
Volgvan

Answer:

Residents (people's) reaction to Incentives

Explanation:

An incentive represents something, an action or a law that causes people to act or change their behaviour about something at a particular time. Basically, incentives work by making rewards available to individuals who change their behaviour on a targeted issue.

Usually, since people rationally compare the costs and benefits of their actions, incentives gives them the opportunity to raise their perception of this costs and benefits and also induces them to respond.

Florida increases the tax on alcoholic beverages, the people still see the benefits of taking alcohol but not at the increased, the reaction therefore, is to purchase in surrounding states where they are still cheaper without a tax increase.

It should be noted from the Florida example that the reaction of people to incentives can both be negative and positive. This example shows a negative response as a result of raised costs when compared with benefits.

3 0
3 years ago
As a politician, you would be more inclined to propose an increase in the minimum wage when you believe that the new minimum wag
scoundrel [369]
The answer is c. Be equal to the equilibrium wage.
3 0
3 years ago
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