The answer is C. “There is a major city 50 miles away from the region”.
Answer:
About 250 ; 2000 bicycles
Explanation:
Opportunity cost simply means the loss incurred on a certain option when the alternative opruoonos chosen.
The opportunity cost of increasing shoe production from 10,000 to 20,000 pairs
The value of 20,000 (x axis) on the y axis is about 3750
Value of point A in the y - axis = 4000
Hence opportunity cost = (4000 - 3750) = 250 bicycles
B.)
The opportunity cost of increasing shoe production from 50,000 to 60,000 pairs
The value of 60,000 (x axis) on the y axis is about 0
Value of point B in the y - axis = 2000
Hence opportunity cost = (2000 - 0) = 2000 bicycles
An increase in the real wage rate decreases the quantity of labor demanded, increases the quantity of labor supplied, and when the labor market is in equilibrium, equates demand and supply of labor.
<h3>What is real wage rate?</h3>
Real Wage Rate in economics refers to the result obtained by dividing the nominal wage rate by the prices of goods.
It is used as a more accurate measure of how much the spending power and is also an indicator of the standard of living of workers.
Learn more about real wage rate at:
brainly.com/question/6342231
Answer:
worker is protected by a cost-of-living adjustment clause in an employment contract
Explanation:
Cost of Living Adjustment(COLA) is an increase made to income from social security to counter the inflationary effects. The COLA change is essentially equivalent to the Consumer Price Index ( CPI) percentage increase over a given period.
All other options are wrong as it is not fit to the current situation
hence, the correct option is B.
