The graph below represents the low-wage labor market demand curve for a U.S. city; there is also a line (MinWg) showing a $12 hourly minimum wage ordinance recently enacted by the city. Using the straight-line tool, choose two of the points shown to draw the supply curve for which the new ordinance would actually make a difference in how much workers earn.
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The new ordinance will make a difference when the new wages will be binding.
How to depict the information?It should be noted that the supply curve shows the relationship between the price and the quantity supplied.
Based on the information given, when the equilibrium wage is above the minimum wage, the ordinance won't make a difference.
On the other hand, when the equilibrium wage is below the minimum wage, it'll make a difference for the worker.
Therefore, joining the lowest of the two points will give the equilibrium.
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Related Questions
the primary reason that governments tax economic activity is:
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The primary reason why the government taxes economic activities is to generate revenue in order to pay for services rendered t the citizens.
What is Tax?Tax is a mandatory financial charge or levy imposed on taxpayers by a governmental organization in order to generate revenue to fund government spending.
Taxes are imposed on economic activities primarily to generate revenue for the government and fund government spending. Thes taxes are used to build infrastructures and pay workers.
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Four companies computed their days' sales in inventory as follows: Company A: 47.2 Company B: 36.5 Company C: 45.1 Company D: 39.4 Which company is the most efficient and effective in managing its inventory
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The most efficient and effective in managing its inventory is Company B.
Who is the most efficient?The days' sales in inventory is a financial ratio that measures the rate at which a firm is able to sell its inventory in a given year. The lower the ratio, the more efficient a firm is in selling its inventory.
Days' sales in inventory = number of days in a period / inventory turnover
Inventory turnover = cost of goods sold / average inventory
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A company received a utility bill of $650 but did not pay it. Indicate the amount of increases and decreases in the accounting equation. (Decreases to account classifications should be entered as a negative.)
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Based on the fact that the utility bill was received but not paid, the increases and decreases are:
Assets - $0Liabilities - +650Equity - (-650)What is the effect on the accounting equation?Liabilities will increase by the utility bill of $650 because the company owes this amount.
Equity will decrease by $650 because this expense will come out of revenue. The total assets will remain unchanged as a result of equity ad liabilities canceling each other out.
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________ examine the data prepared by ________ and then make recommendations to top management regarding strategies for improving the firm
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Answer:
important difference between accounting and other business functions, such as marketing and management, is that
the recording, classifying summarizing and interpreting of financial events and transactions to provide management and other interested parties the information they need to make good decisions
Although accounting has several specific uses, the overall purpose of accounting can be summarized as
a major purpose of accounting is to help managers make well informed decisions. another is to report financial information about the firm to interested stakeholders, such as employees owners, creditors, suppliers, unions, community activists, investors and the goverment (for tax purposes)
Managers examine the date prepared by accountants and then make recommendations to top management regarding strategy.
What is Top level management?Top level management refers to the strategic level which includes the board of the directors, managing directors and Chief executive officers.
Managers review the data generated by accountants and then offer to upper management various ways for the company's improvement.
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which is true of the influencers found among early adopters?
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What is true about the influencers found among early adopters is that a. They are not focused on earning the respect of others.
Who are the influencers ?Influencer can be regarded as those that are found in life that involve themselves in endorsements and product placement .
These people are found in different organizations and have purported expert level of knowledge , however They are not focused on earning the respect of others.
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The first paragraph or part of a business letter is the
OA. introduction
OB. addresses
OC. supporting details
OD. conclusion
SUE
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Answer:
introduction
Explanation:
I don't know how to explain
The extent to which an organization uses fixed costs in its cost structure is measured by: Select one: a. contribution leverage. b. fixed cost leverage. c. efficiency leverage. d. financial leverage. e. operating leverage.
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The correct option is E. Operating leverage occurs when an organization has a fixed cost the percentage change in profits due to changes in sales volume is greater than the percentage change in sales.
What causes Operating Leverage?
When the organization has fixed costs the percentage change in profits due to changes in sales volume is greater than the percentage change in sales.
Thus, to extent of operating leverage, the organization uses fixed costs in its cost structure.
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If a firm has positive results from market testing, the next step will be the:
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If a firm has positive results from market testing, the next step will be the: Product launch.
What is market testing?Market testing is a marketing strategy and can be defined as the way in which companies give out their product so as to receive feedback about the product or to know customer opinion about the product before producing the product in large quantity.
Based on the given scenario the next step if the company receive a positive feedback will be to launch the product.
Therefore the next step will be the: Product launch.
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A company requires physical isolation of its amazon ec2 instances from the instances of other customers. which instance purchasing option meets this requirement?
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The instance purchasing option that meets this requirement of physical isolation is Dedicated Hosts.
What are Dedicated Hosts?
A dedicated host is a kind of hosting service that tis internet based where by the client is the sole use of the hosting service.
Thus, it is right to indicate that The instance purchasing option that meets this requirement of physical isolation is Dedicated Hosts.
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An increase in a consumer's income Group of answer choices increases the slope of the consumer's budget line. has no effect on the slope of the consumer's budget line. decreases the slope of the consumer's budget line. has no effect on the consumer's budget line.
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An increase in a consumer's income will increase the slope of the consumer's budget line.
What is a budget line?The budget line sometimes referred to as the budget restriction, displays every combination of two commodities that a client is able to afford at the current market pricing and within their specific income range.The budget line is a graphical representation of every combination of the two commodities that may be purchased using the given income and cost, with the price of each combination being equal to the customer's monetary earnings.It's critical to remember that the slope of the budget line corresponds to the cost-to-volume ratio of two commodities. The slope of the budgetary restriction is very significant.Increase in the slope of the budget line:A rise in income allows consumers to purchase more of both goods, which causes the budget line to shift outward, or to the right (slope increases).Therefore, an increase in a consumer's income will increase the slope of the consumer's budget line.
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Golda Rush quit her job as a manager for Home Depot to start her own hair dressing salon, Goldilocks. She gave up a salary of $40,000 per year, invested her savings of $30,000 (which was earning 5 percent interest) and borrowed $10,000 from a close friend, agreeing to pay 5 percent interest per year. In her first year, Golda spent $18,000 to rent a salon, hired a part-time assistant for $12,000 and incurred another $15,000 in expenses on equipment and hairdressing material. Based on this information, what is the amount of her explicit costs
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The amount of her explicit costs is $45,500.
Which costs are explicit?Out-of-pocket expenses are charges that are actually made. Explicit costs include salaries that a company pays to its staff and office rent. Implicit costs are less obvious but no less significant. They stand for the opportunity cost of utilising resources the company already owns.
What are some explicit cost examples?Explicit costs have precise cash values that are carried over to the income statement. Wages, leasing payments, utilities, raw materials, and other direct costs are a few examples of explicit costs.
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Using a price skimming strategy, Apple stakes out a price and then maintains and defends that price by significantly increasing the value of their products in future iterations. Apple gives priority to profits over market share, making people starve for the new upgraded product. Apple's price skimming strategy is most often used for a new product when _______. a. the supply of the product is greater than its demand b. customers are unwilling to spend a large amount of money on the product c. competition in the market is abundant d. the product is perceived by the target market as having unique advantages
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(D) The product is perceived by the target market as having unique advantages.
What is a price skimming strategy?When offering a product or service for the first time, a company can use price skimming as a pricing strategy. A company can profit from a higher price in the market and recoup its sunk costs more quickly by using this price skimming strategy and taking the excess profit before new competition emerges and drives down the market price. Setting high initial pricing and gradually lowering them has been a fairly standard technique for managers in developing markets. The process of price skimming is sometimes referred to as riding the demand curve.Therefore, apple's price skimming strategy is most often used for a new product when (D) The product is perceived by the target market as having unique advantages.
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The airlines sold fewer tickets to business travelers during the "Great Recession" due to more companies using video conferencing software to save money. According to the five forces model, this type of threat is called the
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According to the five forces model, this type of threat is called the threat of substitute products.
What are the five forces model?The five forces model is used to analyse the competitiveness among firms in an industry. They are also referred to as the Porter's five forces.
One of the five forces is the threat of substitute products. If there are little or no substitutes for the goods produced by other companies, the greater the power the firms possesses. Video conferencing is an alternative to physical meetings.
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Explain how e business systems naturally have greater security risks than traditional business systems. the answer must be focused on person-based trust
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E-business systems naturally have greater security risks than traditional business systems because they lack a personal touch and are vulnerable to hackers.
Why E-Business is risky?Along with vulnerabilities connected to using third-party platforms, data privacy laws, internet security rules, and customer service concerns, these risks include the unauthorized sharing of data, fraud, malware, and other security lapses. E-commerce is lacking in a personal touch which is better than traditional. The product is not touchable or haptic. Therefore, it is challenging for customers to evaluate a product's quality. Risks associated with conducting business online frequently include suspicious activities and credit card data theft. This is not a problem in traditional ones.Anyone can make an online purchase using a stolen credit card, including hackers. Most often, disputes start when a customer's account has been charged for a product that never shows up.Hence, E-business is riskier than the traditional business system.
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Willard works as a representative focused on the senior marketplace. What would be considered prohibited activity by willard?.
Answers
The act of Implying that only seniors can enroll in a Medicare Advantage plan when meeting with Mr. Hernandez would be considered a prohibited activity by Willard.
What is a prohibited activity?This refers to those activities that are not permitted under code of conduct of an organization.
Hence, among other options, the act of Implying that only seniors can enroll in a Medicare Advantage plan when meeting with Mr. Hernandez would be considered a prohibited activity by Willard.
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Suppose you are the owner of a picture frame store and you wish to calculate how many pictures you must sell to cover your fixed and variable costs at a given price. Demand for pictures is strong, so the average price customers are willing to pay for each picture frame is $120. Also, suppose your fixed costs (FC) total $32,000 (real estate taxes, interest on a bank loan, etc.) and unit variable cost (UVC) for a picture frame is $40 (labor, glass, frame, and matting). What is the quantity of picture frames you will need to sell to break even
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Based on the selling price of the picture frames and the unit variable costs, the break-even point is 400 picture frames.
What is the breakeven point?This can be found by the formula:
= Fixed costs / (Selling price - Variable costs)
Solving gives:
= 32,000 / (120 - 40)
= 32,000 / 80
= 400 picture frames
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An instrument that give their holders the right to purchase a certain number of shares of the firm's common stock at a specified price over a certain period of time is called
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An instrument that gives its holders the right to purchase a certain number of shares of the firm's common stock at a specified price over a certain period of time is called stock purchase warrants.
What are stock purchase warrants?
Stock options are contracts that give the holder the freedom to purchase or sell a security at a certain price for a set period of time without being impacted by changes in the security's market price during that time.
A stock purchase warrant is another form of stock option.
An owner of a stock purchase warrant has the right to acquire shares of common stock at a given price (the exercise price of the warrant).
In order to make senior securities (preferred stocks and bonds) more marketable, warrants are frequently issued alongside them.
They may also be given out directly as part of the payment made to underwriters of new issues and other company promoters.
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Those who oppose corporate social responsibility believe that Multiple choice question. businesses cannot succeed in societies that fail it is using investors' money in ways they did not intend benevolence is the highest virtue businesses who are socially responsible will earn more
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Those who oppose corporate social responsibility believe that it is using investors' money in ways they did not intend. Thus the correct answer is B.
What is corporate social responsibility?Corporate social responsibility is referred to as an initiative taken by an organization to protect environmental values and surroundings by eco-friendly and minimum risk strategy in business operations.
This activity focuses on minimum use of natural resources in the business operations and decisions making of the business.
These types of organizations practicing CSR will focus on strategies that do not create harm to the environment and encourage sustainable business practices to provide better experiences to stakeholders of the business.
Therefore, option B which is using investors' money in ways they did not intend is the appropriate answer.
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Ryan and Carly are planning to enter into a limited partnership in which neither the general partners nor the limited partners have personal liability for the debts and obligations of the partnership. They agree that debts of the partnership are solely the responsibility of the partnership, not of the general or the limited partners. According to their agreement, Ryan and Carly are forming a ________.
Answers
According to their agreement, Ryan and Carly are forming a Limited Liability Partnership.
What is a limited liability partnership?A limited liability partnership is a business structure that allows partners' liabilities to be limited to the amount they agreed to contribute to the partnership.
The purposes of establishing a partnership are:
Spreading the riskLeveraging individual skills and expertiseEstablishing a division of labor.Thus, according to their agreement, Ryan and Carly are forming a Limited Liability Partnership.
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What is the value of total (also called social or economic) surplus?
Answers
The values of economic surplus is computed by remove in the actual selling price from the market price and the price a consumer is willing to pay.
What is economic surplus?
Economic surplus occurs when both consumer and producers are both benefiting from surplus.
This period they are both happy and satisfied.
Therefore, It is computed by remove in the actual selling price from the market price and the price a consumer is willing to pay.
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Sutton is a partner of RST Partnership. RST distributed $3,000 cash and a building with an adjusted basis of $10,000 and a fair market value of $50,000 to Sutton. Before the distributions, Sutton's basis in the partnership was $90,000. What amount of these distributions is taxable to Sutton in the current year
Answers
Based on the basis of the distributions and Sutton's basis in the partnership, the amount of taxable distributions to Sutton is $0.
How much of the distributions can be taxed?The distributions can only be taxed if they exceed Sutton's basis in the partnership of $90,000.
As neither the cash distribution nor the building, have enough to surpass Sutton's basis, the taxable distributions will be $0.
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Traditional management thinking treated human resource management primarily as a means to support a company's strategy. Traditional management thinking treated human resource management primarily as a means to support a company's strategy. false true
Answers
As regards the statement on how traditional management treated human resource management, this statement is FALSE.
How did traditional management treat human resources?Human resources was merely seen as a way to control labor and ensure they did not go out of bounds.
HRM was therefore not seen by traditional managers as a way to support the goals of the company, and its strategies.
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The given statement that says Traditional management thinking treated human resource management primarily as a means to support a company's strategy is true.
Traditional management thinking had a different approach toward human resource management. They considered the human resource of a company as mere factors of production.
As per traditional management thinking, the major focus was on the production and efficiency of the organization rather than the employees' well-being or job satisfaction.
They treated human resource management as a means to support the company's strategy. It was primarily concerned with recruiting and training employees to increase production and efficiency while keeping costs low.
The traditional management model viewed employees as easily replaceable and disposable, with little regard for their unique talents or individual needs.
This was seen as an effective way to run an organization, but over time it became clear that this approach was not sustainable or effective in the long term.
As a result, newer management models have emerged that place greater emphasis on employee engagement, motivation, and empowerment.
Hence, the right answer is true.
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according to the international data corporation (idc), what is that crucial ability that will make cloud computing essential for businesses to succeed, sustain, and compete in today’s markets?
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According to the International Data Corporation (IDC), the crucial ability that will make cloud computing essential for businesses to succeed, sustain, and compete in today’s markets is D. Data-driven decisions.
What are data-driven decisions?A data-driven decision is the use of facts, metrics, and data to guide strategic business decisions to align with organizational future goals, objectives, and current initiatives.
Data-driven decisions enable organizations to observe real data and gain predictive insights, enabling the organization to achieve efficiency and effectiveness in its operations.
Thus, according to the International Data Corporation (IDC), the crucial ability that will make cloud computing essential for businesses to succeed, sustain, and compete in today’s markets is D. Data-driven decisions.
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Successful small business owners are: Group of answer choices not good sources for information on starting your own business because they generally do not understand failure. valuable sources for information since you can learn from their experiences. good but risky since their keen sense of sniffing-out something with potential will tempt them to steal your ideas. valuable sources of information, but you should proceed with caution because talking with someone who could eventually be your competitor may cross the line due to federal trade commission laws.
Answers
Successful small business owners are valuable sources for information since you can learn from their experiences.
What is a business?It should be noted that a business entails the production of goods and services to the consumers.
In this case, the successful small business owners are valuable sources for information since you can learn from their experiences.
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If government spending increases or personal income taxes decrease, what are the likely effects on output, price level, and interest rates?
Price Level / Output / Interest Rates
1) Increase / Increase / Decrease
2) Increase / Increase / Increase
3) Decrease / Increase / Decrease
4) Decrease / Decrease / Decrease
5) Decrease / Decrease / Increase
Answers
When there is an increase in government spending, there will be an increase on the output, price level, and interest rates
What is a government spending?This refers to the funds injected to the public sector on the acquisition of services such as education, healthcare, social protection, defense etc.
Most time, the effect of an an increase in government spending leads to an increase on the output, price level, and interest rates as it is a method of stimulate demand.
Therefore, the Option A is correct.
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Efficiency is a measure of Multiple Choice the appropriateness of the goals that managers have selected for the organization to pursue. how productively resources are used to achieve a goal. the degree of novelty of innovation in products or production. how easily managers can alter the way they perform their activities to respond to actions of their competitors. the speed with which a manager responds to an unforeseen event in the organization.
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Efficiency is a measure of B. how productively resources are used to achieve a goal.
What is Efficiency?Efficiency measures the ratio of economic output to the total input of resources.
Mathematically, efficiency can be expressed as r = P/C, where:
P = the amount of useful outputC = the cost of resources consumedR = Efficiency.Thus, Efficiency is a measure of B. how productively resources are used to achieve a goal.
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If you are recording your own audio clips, what is the best advice about
including a joke in a clip?
A. Effective speakers rarely include jokes in presentations.
B. It can help increase audience members' interest.
C. Jokes are not appropriate in persuasive addresses.
D. Jokes are appropriate, but only if the topic is humor
Answers
Answer:
B
Explanation:
As long as the joke is good
A financial analysis comparing the potential gains from an investment against the potential losses is known as_______________
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A financial analysis comparing the potential gains from an investment against the potential losses is known as Risk or ROI
What is Return on Investment (ROI)These is the amount of money generated from a business. Most financial analysis are analyzed by understanding the level of ROI generated by a business.
Most firm therefore compare their potential gains from an investment against the potential losses depending on the ROI and risk involved.
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A natural barrier that faces Argentina when it sells beef to Siberia is: Group of answer choices custom regulations distance government controls exchange controls taxes
Answers
A natural barrier that faces Argentina when it sells beef to Siberia is distance.
Why distance is a barrier to trade?Due to the fact that markets within countries are typically closer together than markets between countries, distance reduces international trade in comparison to domestic trade. Most overseas markets have higher transportation expenses than they do for domestic markets, frequently by a significant margin. Given that distance seems to restrict trade more than can be compensated for by transportation, it is possible that distance is also linked to greater non-transportation trade costs.
For example, the price of carrying the beef from Argentina to Siberia could make it too expensive even though farming beef there may be less expensive than raising beef in the freezing cold of Siberia. Thus, one of the inherent obstacles to international trading is distance.
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the best alternative given up when we make a decision is called the ________ of that decision.
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The best alternative given up when we make a decision is called the Opportunity Cost of that decision.
What is an Opportunity Cost?Opportunity cost is the forgone alternative when a decision has to be made.
For instance, if a meal has to be skipped to afford the payment of a book, then the opportunity cost or foregone alternative is the meal. Therefore, the correct answer is opportunity cost.
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