In a competitive labor market, labor demand is downward-sloping because wages fall as economies enter recessions and rise when economies recover from recessions. more workers want to work when wages fall. diminishing marginal product of labor. companies hire more workers when prices for their goods increase.

Q: why do we minus the 30,000? cant we just only add up the cost iccured by this decision?

A: Opportunity cost means the forgone income.  It means what actual amount we have lost in acquiring…

Q: need the anwser asap. thank you

A: b. Consumer surplus:Consumer surplus is the difference between the price consumers are willing to…

Q: What are two guidelines the manager should keeo in mind with measuring the maginal cost correctly?

A: Marginal cost is the additional cost incurred by producing one additional unit of a product or…

Q: Find the savings when the income is 80 and the consumption is 60

A: Generally in the given question, Income value is = 80 Consumption value is = 60 Savings = ? Needed

Q: a) Suppose that Ben and Wil compete in prices and set prices simultaneously (i.e. assume Bertrand…

A: examine the pricing strategies of Ben and Will. Given that both compete on price and set their…

Q: Mika eams $340 per week which she spends entirely at the grocery store. purchasing either food or…

A: Given: Income=$340 Price of food = $1  Price of alcohol =$4Food Stamps =$65

Q: The South Korean Government in the 1970s decided to follow a strategy of increased investment in…

A: Scarcity refers to the limited availability of resources, that are used to produce goods and…

Q: How did you compute 7.2%?

A: Stay-even analysis shows if your change in price is viable or profitable or not. The formula for…

Q: What does the AE method provide?

A: The investment expenditure is an important component of the aggregate demand in the economy. It is…

Q: Please help me create a research question on economic for someone pursuing economic to research.

A: Research question concise, clear and focused statement which research sates in order to investigate…

Q: 20+100+200000

A: 100+20+200000120+200000200120

Q: Sheryl's preferences for consumption and leisure can be expressed as U(C, L) = (C – 100) × (L– 40).…

A: We are given the following information- Sheryl's preference for consumption and leisure is expressed…

Q: Determine the revenue per year and revenue over the lifetime of the customer Number of smart devices…

A: Revenue is defined as the income of the company. The revenue generated is done from two sources…

Q: what is the d than?

A: Price ceiling:It is a situation when the government controls the prices of goods and services to…

Q: Provide a brief description of what a Solar panel Tech does.

A: Because of solar panel tech,solar energy can be converted into electricity. Solar panels are used on…

Q: A retailer bought several pairs of Jean's for $75,000. He sold all but 30 pairs got 86400 making a…

A: Let, retailer bought x pairs of jeans at price $y for each pair. Total cost: xy = $75,000 Since he…

Q: Government-imposed taxes cause reductions in the activity that is being taxed, which has important…

A: There are many sub-parts of the question. As per honor code, we can only provide solution of first…

Q: Suppose the imposition of a $2-unit tariff on X leads to a fall in the international price of X from…

A: An imposition of a unit tariff refers to the levying of a fixed amount of tax or duty on the import…

Q: 202- SB A graph showing price and quantity per month.... Price $1000 1600 1400 1200 1000 800 000 400…

A: Demand is amount of a good that consumers are willing and able to purchase at different…

Q: San Francisco has rent control policies that limit the annual increase in rent by 2-3% (sometimes…

A: San Francisco's rent control laws would probably be repealed, which would have a number of effects…

Q: Define the term Expenses?

A: The term expense (expenditure) is defined as the cost incurred for something. In other words, it is…