Answer: E) Many people who work for manufacturing plants live in areas in which the manufacturing plant is the only source of employment.
Explanation:
The scenario that'll make the labor union accept Richard's suggestion to lower the wages is when many people who work for manufacturing plants live in areas in which the manufacturing plant is the only source of employment.
The reduction in wages by Xanadu Industries wouldn't bring about loss.of workers as the manufacturing plant is the only industry in the area. Another way the company can reduce cost is through the reduction in its raw materials cost. If the employees aren't satisfied due to the reduction in wages, they can look for employment at Utopia Industry.
Therefore, the correct option is E.
Answer: a form of government expense that is not made in exchange for a currently produced good or service.
Explanation:
Transfer payment are the goods or services that are supplied to the residents of a country. They're the form of government expense that is given to people in the society and such payments are not made due to the exchange of goods or services.
Examples of transfer payments include unemployment benefits, Social Security, etc. The reason behind transfer payments is to help in the redistribution of income and to help the less privileged in the society.
The quantity rose was mostly likely cause
Answer:
Marginal social cost is the sum of marginal private cost and marginal external cost
Explanation:
Marginal social cost is the total cost society pays for the production of another unit or for taking further action in the economy.
Marginal Social Cost= MPC+MEC
where MPC = Marginal private cost
MEC = Marginal external cost
A private cost of production is a cost that is borne by the producer of a good or service. on the other hand, A marginal external cost is the cost of producing an additional unit of a good or service that falls on people other than the producer.
Answer:
d. $432,590
Explanation:
In this scenario cost varies with volume of calls. This is called variable cost and is defined as cost that changes as the quantity of goods and services changes. Variable cost is a summation of all the marginal costs of units produced. They rise as production increases and vice versa.
To calculate the variable cost= Total cost/ volume
Variable cost= 452,500/25,000
Variable cost= $18.10
At a new volume of $23,900
Total cost= Variable cost * Volume
Total cost= 18.1* 23,900
Total cost= $432,590
