If the equilibrium wage is $9 in the market for hotel workers and $8 in the market for restaurant workers and both markets have similar elasticities of labor supply and demand, then a minimum wage of $4 in both markets will:

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Answer 1
In such circumstances, the supply of labor in both markets will fall. The equilibrium salary for both industries is already at least twice as much the $4 rate. With such a low salary, there's no incentive to supply labor, especially if the situation is not critical that will compel people to accept almost any salary level in order to survive.

Related Questions

Please find the current assets and liability

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Current assets includes
Cash 43000
Prepaid insurance 9000
Inventory 55000
Accounts receivable 33000
Total=140000

Current liabilities includes
Accounts payable 75000
Salaries payable 12000
Total=87000

The unequal distribution of wealth, income, power, and poverty is called

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The answer to this question is social inequality. Social inequality is the unequal amount of opportunity and reward that is given to a person depending on their race, gender, age, or class. Social inequality can be categorized into 5 types such as political inequality, income inequality, life inequality, inequality of membership, and inequality of treatment.

A vendor allows a 2% discount if an invoice is paid within 10 days. a purchase was made for $5,000 on june 10 and paid on june 19. how much should the check have been?

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An invoice is a document given from the seller to the buyer stating the quantity of products bought, agreed prices and transactions made between the two parties. If the buyer bought the product in June 10 and decides to pay on the 19th, only 9 days have passed since the date of purchase. This is inclusive of the agreement written that 2% discount is given if paid not more than 10 days. Therefore, the check should be

($5,000)(1-.0.02) = $4900

A(n) ________ is information that needs to be given to a macro to produce output.

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An argument is information that needs to be given to a macro to produce output.
Argument is a list of data and causes that could be used to determine the condition of the market and help the management make a decision on how to approach the business strategy

At the company picnic there were two teams for tug of war. from their starting positions team a pulls team b forward 3 meters, and are then pulled forward themselves 5 meters. team b then pulls team a forward 2 meters. if the first team is to be pulled forward 10 meters loses, how many more meters must team b pull team a forward to win?

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In a game of tug and war, if the game is fair, no displacement occurs. Therefore, the total displacement made by the two teams is equal to 0. In order to compute the displacement the team B must pull to win over team A, let us get the sum of all the displacements and equal to zero. This is because team A and team B must pull equal distances to determine the minimum. For convention, distances pulled in favor of team B will be positive and that of team A is negative. Thus,

-3+5+2-10+x =0
x = 6

Therefore, team B must pull MORE THAN 6 meters in order to win.
Final answer:

In order for Team B to win, they need to pull Team A forward by a total distance of 10 meters. Since Team B already pulled Team A forward by 10 meters, they don't need to pull them any further.

Explanation:

To determine how many more meters Team B must pull Team A forward to win, we need to calculate the total distance that each team pulls the other forward. From the information given, Team A initially pulls Team B forward by 3 meters. Then, Team A is pulled forward by 5 meters. Finally, Team B pulls Team A forward by 2 meters. So, the total distance that Team B pulls Team A forward is 3 + 5 + 2 = 10 meters. Since Team A loses when it is pulled forward by 10 meters, Team B doesn't need to pull Team A forward any more to win.

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Eckert company is involved in producing and selling high-end golf equipment. the company has recently been involved in developing various types of laser guns to measure yardages on the golf course. one small laser gun, called littlelaser, appears to have a very large potential market. because of competition, eckert does not believe that it can charge more than $86 for littlelaser. at this price, eckert believes it can sell 120,000 of these laser guns. eckert will require an investment of $12,000,000 to manufacture, and the company wants an roi of 18%. determine the target cost for one littlelaser.

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We can solve this problem by first calculating for the total cost and the total revenue. Then the difference of the total revenue and total cost would be the profit or return on investment.

Profit = Total revenue – Total cost                      ---> 1

 

First, calculating for the total revenue:

Total revenue = $86 * 120,000

Total revenue = $10,320,000

 

Second, calculating for the total cost:

Total cost = X * 120,000

where X is the target cost for one littlelaser

 

It was stated that the company wants a return of investment of 18%, therefore the profit must be:

Profit = 0.18 * $12,000,000

Profit = $2,160,000

 

Substituting to equation 1:

$2,160,000 = $10,320,000 - X * 120,000

X = $68

 

Therefore the target cost is $68

Final answer:

The target cost for one littlelaser is $10,169,491.53.

Explanation:

The target cost for one littlelaser is the cost that Eckert needs to achieve in order to meet its desired return on investment (ROI). In this case, Eckert wants an ROI of 18%. The formula to calculate the target cost is:

Target Cost = Total Investment / (1 + ROI)

So, in this case, the total investment is $12,000,000 and the desired ROI is 18%. Plugging these values into the formula:

Target Cost = $12,000,000 / (1 + 0.18) = $10,169,491.53

Therefore, the target cost for one littlelaser is $10,169,491.53.

If you are required to show proof of financial responsibility for the future, for how many years must the proof be kept?

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A person needs to keep proof of financial responsibility for two years. This will protect the person if they are required by a court. Many people must show this if they have had a speeding ticket, DUI, or any other driver related incident. The court will need to have a copy for their records. Always keep your paperwork in a safe place and somewhere you can remember. You can always make a copy and keep it in the cars glove box. 
Final answer:

The proof of financial responsibility might need to be kept for a minimum of three to five years, depending on specific circumstances and jurisdiction. This demonstrates potential capacity to cover damages, or financial stability to creditors.

Explanation:

The requirements to demonstrate financial responsibility can vary largely based on the context. However, in certain cases, such as auto insurance, one might need to maintain and show proof of financial responsibility usually for a minimum of three years. Some states may require five years or more. This is usually to verify that you have the resources to cover damages if you're involved in an accident. It can also demonstrate to potential creditors, landlords, or others requiring such proof, your financial stability over time. Remember this can change based on the specifics of the situation.

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What factors caused american business to develop into a mixed economic system rather than some other type of economic system?

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The economic system in the USA is rooted in the Laissez-Faire capitalism of Adam Smith. However, the real-world setting in the US is not as Laissez-Faire as Smith would have liked because the government greatly participates as more than umpire and rule maker. The government take part in American Business by way of resource or product markets, interest, and especially taxes which results in making the American business progressed into a mixed economy, showing both elements of capitalism and socialism.

Other factors such as foreign competition, the Great Depression, World Wars I and II, and the increasing age of population have also contributed to the mixed economic system.

Answer:

The Great Depression

Explanation:

The shrinking size of the globe, the intervention of foreign competition, the Great Depression, World Wars I and II, and the ever-increasing age of our population (among other factors) have contributed to our mixed economic system.

1. What is the role of the franchiser when a franchise is purchased?

2. List three advantages of buying an existing business.

3. Imagine that you want to open a doggy-daycare business. Give an example of a human risk, a natural risk, and an economic risk associated with opening this business.

4. Using your answers from the previous question, give one way to manage or lessen the risk you identified.

5. Explain why starting a business from scratch is more difficult than purchasing a franchise, buying an existing business, or joining a family business.

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Final answer:

The franchiser provides the franchisee with a proven business model and support. Buying an existing business offers advantages such as an existing customer base and trained employees. Owning a business entails various types of risk that can be managed through insurance, planning, and savings. Starting from scratch is harder due to the lack of a proven business model and customer base.

Explanation:

The role of the franchiser when a franchise is purchased is to provide the franchisee with a proven business model, including training, guidance, and support. They often provide resources for marketing and advertising as well.

There are several advantages to buying an existing business. Firstly, it has a provable track record of success. Secondly, it has an existing customer base. Finally, it has skilled and trained employees already in place.

If you want to open a doggy-daycare business, there are several risks you need to consider. A human risk could be an injury to a pet or employee. A natural risk might be a hurricane or flood that damages your facilities. An economic risk could be a recession, leading to less demand for dog daycare services.

To mitigate these risks, you might consider taking out insurance coverage, developing a business continuity plan, and putting aside savings for periods of economic downturn.

Starting a business from scratch is more difficult than purchasing a franchise, buying an existing business, or joining a family business because it lacks a proven track record, established business model, and potentially loyal customers.

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You are driving in stop-and-go traffic during the daytime, someone in another vehicle tells you that your break lights are not working. You should look for a service station, do all your breaking very gently, And

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One should look for a service station, do the breaking very gently and drive with the window open and use your hand signal when you slow down or stop.

When the break lights are not working, it means that the light signal are does not work with the pressing of the brake pedal.

In conclusion, in this case, one should look for a service station, do the breaking very gently and drive with the window open and use your hand signal when you slow down or stop.

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An apparel designing company is planning to enter the women's trousers market. they are in the process of developing a product that will appeal most to customers. the part-worths for each of the attribute levels obtained from an initial customer survey and the subsequent regression analysis can be used to determine the

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The choices are unfortunately missing. Therefore, this question is incomplete.

Tele-com, inc., the nation's largest cable tv company, tested the effect of a price reduction for the disney channel. it lowered prices from $10.75 to $7.95 and found that the number of customers more than doubled. this means the

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This means that there were customers that were wanting the Disney channel, but did not get it because it was too expensive. Once the price went down these customers bought the service. The cable company test showed that they should keep their prices for the Disney channel low to generate more revenue. Even if they only had one customer to begin with they would only be making $10.75, and when they lowed their prices they would be making at least $15.90.

You would advise a client that's launching a new product line to advertise on the google display network because she can:

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You would advise a client that's launching a new product line to advertise on the google display network because she can: reach people who are interested in similar products. By doing this, you will give a higher chance to your client in increasing their customers' basis which will lead to the increase in sales and profits

Please list all technical and software knowledge and skills:

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Technical skills and software skills are most important for jobs in the IT (Information Technology) sector. Some of the most wanted technical skills and knowledge are: coding and programming (some programming languages are Java, C, C++, Visual Basic, PHP, Python,...), project management (being able to lead and organize project, to delegate tasks and measuring the success of the project), big data analysis (being good at collecting, organizing and working with data), social media experience (experience and working in various social media platforms). 

________ is the practice of taking a significant activity within the organization and contracting that activity out to an independent party.

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outsourcing is the practice of taking significant activity with in organization and contracting it to an independent party.

True or false the texas legislature is classified as highly professional, the highest level of institutionalization.

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Your question lacks some context. So, I am going to assume that you are talking about relates to America as a whole. If my assumption is right, I'd have to say that the answer is false because they are at the state level and the federal level outranks it. For instance, if Texas passes a law abolishing a minimum wage, the law on federal minimum wage still must be followed.

A store asked 250 of its customers how much they spend on groceries each week. the responses were also classified according to the gender of the customers. we want to study whether there is a relationship between amount spent on groceries and gender.

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Yes, I think there is a relationship between amount spent on groceries and gender because boys tend to eat more than the girls.

Good designs offer users as many alternatives as possible
a. True
b. False

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The answer to is
b. False

Good designs or more specifically, good designers should prepare multiple design choices that users can choose from. People have different tastes and sense of style. A designer should not impose his own preference and provide different perspectives for the users.

_____ include(s) stocks of completed goods, work in process, and raw materials

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Inventory includes stocks of completed goods, work in process, and raw materials. 

Inventory is the products and materials that a business holds for definitive objectives to have a reason for resale.

The idea of inventory has been reached out from assembling frameworks to benefit organizations and tasks, by summing up the definition to be "all work inside the procedure of creation all work that is or has happened preceding the fulfillment of generation." with regards to an assembling generation framework, stock alludes to all work that has happened - crude materials, in part completed items, completed items before deal and takeoff from the assembling framework. With regards to administrations, stock alludes to all work done a preceding deal, including halfway process data.

The nations of tweedle-dee and tweedle-dum do not trust each other. tweedle-dee is convinced that if it lowers its trade barriers, tweedle-dum will not lower its barriers. therefore, tweedle-dee keeps its trade barriers high. this is an example of the ________ argument in favor of protectionism. national security threat of retaliation infant-industry cheap foreign labor absolute advantage

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This is an example of THREAT OF RETALIATION. When a country is experiencing fear to do something necessary thing as a result of the fact that its good gesture may not be reciprocated, the country is said to be experiencing a threat of retaliation. 

The situation between Tweedle-dee and Tweedle-dum exemplifies the threat of retaliation argument, where Tweedle-dee maintains high trade barriers fearing that Tweedle-dum will not reciprocate if they lower their own.

The situation described between the nations of Tweedle-dee and Tweedle-dum reflects the threat of retaliation argument in favor of protectionism. This argument is based on the concern that if one country lowers its trade barriers, the other may not reciprocate, leading to a one-sided advantage. The scenario does not align with the national security argument, which is focused on protecting industries crucial for a nation's defense, nor does it directly relate to infant-industry considerations, which are about nurturing and protecting young domestic industries from international competition until they can compete on their own.

The threat of retaliation argument supports maintaining high trade barriers as a precaution against potential non-cooperation from another nation. In the case of Tweedle-dee, the fear that Tweedle-dum will not lower its barriers as well prompts Tweedle-dee to keep its own barriers high to preserve its domestic market.

A(n) ________ includes how employees should react to security problems, whom they should contact, the reports they should make, and steps they can take to reduce further loss.

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An "Incident Response Plan". :)
A(n) Incident Response Plan includes how employees should react to security problems, whom they should contact, the reports they should make, and steps they can take to reduce further loss.

The cost of making a shirt is half of what the shirt normally sells for. today, however, the shirt is on a 15% discount from its normal price. what is the current price of the shirt?

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Let the cost of the shirt be y and the price by the which the shirt is sold is 2y.

Now, let's calculate how much does 15% represent from the price of the shirt:
15% discount = (15/100) x 2y = 0.3y
Therefore, the shirt is sold for : 2y - 0.3y = 1.7y

This means that at 15% discount, the shirt is sold at 1.7 of its original cost.

Normal price represents the average price of the product by considering its cost of production and profits. The current price represents the final prices after any tax or deductions.

The discount is given as 15%. It would give the normal selling price to be x. Therefore, the cost of making the short would be, [tex]\frac{x}{2}[/tex].

The selling price after the given discount would be computed as below:

[tex]x(1-\frac{15}{100} )\\=\frac{85x}{100}[/tex]

[tex]\frac{85x}{100} *\frac{2}{x} \\=1.7[/tex]

Hence, at a discount of 15%, the shirt would be sold at 1.7 times the production cost of the shirt.

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A piece of equipment costs $1.2m. the equipment has a useful life of 4 years. in each of the four years, the investment generates a cash inflow of $0.5m. the impact of the investment project on net income is derived by subtracting depreciation from cash flow each year. assuming the equipment is depreciated on a straight-line basis over 4 years, what is the average contribution to net income across all four years

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Annual depreciation is
Cost of equipment÷useful life
1.2m÷4 years=0.3m

The average contribution to net income across all four years is
0.5m−0.3m=0.2m

The answer is 0.2m

In washington state, how often is a vessel owner required to renew their vessel's registration card?

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In Washington State, vessel owner required to renew their vessel's registration card annually.

In most states, vessel owner required to renew their vessel’s registration card annually according to validity but there are some states where the rules are change. For example the time period of validity of vessel registration card in Indiana is 3 years, in Texas it is 2 years.

 

Can a citizen of a state sue a different state

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yes. its called an out of state warrant

In a certain economy, when income is $500, consumer spending is $375. the value of the multiplier for this economy is 5. it follows that, when income is $510, consumer spending is

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First, we must know the formula for Multiplier and Marginal Propensity to Consume (MPC).

Multiplier = 1 / (1 - MPC)

MPC = difference in consumption / difference in income
MPC = ΔC / ΔY

Consumption or Consumer Spending = C
Income or Yield = Y

Now, let's start the formula.

5 = 1 / (1 - MPC)
1 - MPC = 1 / 5
1 - MPC = 0.2
MPC = 1  - 0.2 = 0.8

After we got the MPC, the next one is to find the consumer spending (x).

MPC = ( x - 375 ) / ( 510 - 500 )
0.8 = ( x - 375 ) / 10
0.8 * 10 = x - 375
8 = x - 375
x = 8 + 375 = 383

The consumer spending would be $383

The formula to compute Multiplier and Marginal Propensity to Consume (MPC)  :

= Multiplier = 1 / (1 - MPC)

where :

MPC = difference in consumption / difference in income

MPC = ΔC / ΔY

Consumption or Consumer Spending = C

Income or Yield = Y

We can now plug in the details in the formula

5 = 1 / (1 - MPC)

1 - MPC = 1 / 5

1 - MPC = 0.2

MPC = 1  - 0.2

MPC = 0.8

Now that we have MPC, the next step is to find the consumer spending (x).

MPC = ( X - 375 ) / ( 510 - 500 )

0.8 = ( X - 375 ) / 10

0.8 * 10 = X - 375

8 = X - 375

X = 8 + 375

X= 383

It therefore follow that when income is $510, consumer spending will be $383

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Why would you be a great candidate for taco bell?

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The question "Why would you be a good candidate for Taco Bell?" is found on Taco Bell applications. It may also be asked during an interview for Taco Bell. They are asking why do you think you would be a good worker at their restaurant. A person should always answer truthfully and to the best  of your ability. You can say that you are a dedicated employee, will show up for work, work the best you can, have a good work ethic, and above all else are friendly and outgoing. 

Among the costs of integration for states is __________.

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The answer is cost reduction. It is an opening to a more competitive ground that would invite different countries to participate and invest. The trade would allow prices to be good for costumers affordability. Cost integration can improve business systems through efficiency and cooperation.  


Each language possesses a structure which must at some level influence the way its users view the world.

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The statement above is popularly referred to as Whorfian hypothesis. The hypothesis states that language directly affects the way people think about the world and the way they perceive it, thus it holds the idea that one's language determines one's conception of the world.

Why do most nations use fiat money today?


Answers

Most nations use fiat money today because it has no value and is only used for the purpose of making the payment. 

Correct answer is D. Governments know that fiat money derives its value from gold and silver.

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