Business, 16.07.2021 01:40 gracebuffum
How does the labor-leisure trade-off determine the supply of labor? A. The supply of labor is no different than the supply of any other good or service in that it is primarily affected by production costs. In the case of labor, the dominant production cost is the cost incurred to acquire employable skills. The supply of labor is upward-sloping because higher wages are required to cover the expense of gaining more skills. B. An increase in the wage rate is an increase in the opportunity cost of leisure, and can therefore be expected to reduce the amount of leisure one wishes to consume. Choosing less leisure is equivalent to supplying more labor, thus yielding a positive relationship between the wage rate and the amount of labor supplied. C. Individuals typically trade off working versus leisure in an unplanned, unsystematic way. As a result, the supply of labor exhibits a bit of randomness, showing that higher wages sometimes increase the quantity of labor time supplied and sometimes decrease the quantity of labor time supplied. D. When an individual chooses an amount of leisure to consume, he is simultaneously choosing a quantity of labor to supply. Since leisure is a normal good, an increase in the wage induces more consumption of leisure and therefore a smaller quantity of labor supplied.
Answers: 2
Business, 22.06.2019 17:50
Abc factory produces 24,000 units. the cost sheet gives the following information: direct materials rs. 1,20,000direct labour rs. 84,000variable overheads rs. 48,000semi variable overheads rs. 28,000fixed overheads rs. 80,000total cost rs. 3,60,000presently the product is sold at rs. 20 per unit.the management proposes to increase the production by 3,000 units for sales in the foreign market . it is estimated that semi variable overheads will increase by rs. 1,000. but the product will be sold at rs. 14 per unit in the foreign market. however, no additional capital expenditure will be incurredq-1. what is present profit of the company ? q-2. what is proposed profit of the company in new market? q-3.what is suggestion for new makret proposal whether proposal accept or not
Answers: 1
Business, 23.06.2019 14:50
Idont need this written for me but if someone could just come up with an example that can get the process started for me that would be ! research the consumer services industries in united states. choose any one of the consumer services companies and write an essay of about 500 words on how a diverse economy such as the united states can satisfy the needs of its consumers. consider different cultures and languages, services offered to lower socioeconomic populations, or services offered to disabled consumers or women. also analyze the challenges faced by the consumer service industry.
Answers: 1
Business, 23.06.2019 20:10
When performing a job search, which two of the following tips should you employ in regard to the keywords you use? a. use five or more keywords at the same time. b. choose narrowed over broad keywords. c. use the same keyword every time. d. use variations of keywords to broaden your results. e. consider unrelated keywords for the topic.
Answers: 3
How does the labor-leisure trade-off determine the supply of labor? A. The supply of labor is no d...
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