List and describe the 2 major jobs performed by price

Q: How does an increase in the minimum wage affect the economy ?

A: It is important to note how the increasing minimum wage would lead to multiple effects on the…

Q: Extremely low prices for food in government run grocery stores in Venezuela, O make it harder for…

A: This can be defined as a concept that shows the total demand for the products and the services in a…

Q: 5. Should all professors be paid the same? The following graphs show the supply of and demand for…

A: The objective of the question is to understand the impact of setting the same wage for all assistant…

Q: In a labor market, supply is composed of which of the following groups?   a. Households   b.…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: would a person most likely spend the most money?

A: The portion of an individual's income involved in food, water , traveling and rent etc. constitutes…

Q: can you provide a detailed demand and supply diagram and apply it to the answer?

A: Market equilibrium is a situation in which the quantity of a good or service that producers are…

Q: Farm employment in the United States amounts to about what percentage of total employment? A. Less…

A: A. Less than 2 percent Option A is correct The agricultural and food sectors employed 19.7 million…

Q: 5. Should all professors be paid the same? The following graphs show the supply of and demand for…

A: The equilibrium wage is the point when the economy can exactly hire the number of people that is…

Q: Consider the previous graph. Suppose that the price of a sedan increases from $21,000 to $26,000.…

A: Greater quantities of product are supplied at higher prices, while fewer quantities are supplied at…

Q: Pizza subs S The producer of pizza is able to get tomatoes for half the regular price. What will be…

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

Q: Write an examples of the product and service supplied in the United States by apply the theory of…

A: In the production process, the conditions and fluctuations that happen between demand and also the…

Q: What happens to the supply curve when prices of factor of production rises

A: Prices of factor of production have a huge role to play in the supply of a commodity. It affects the…

Q: QUESTION 6 For a worker the wage is a. enough to pay the bills b. the cost of education and training…

A: A wage is a regular service earned for a work or service rendered.

Q: As the wage rate increases, the quantity supplied of labor in a market will? a. increase b. decrease…

A: Wage Rate: The amount of money paid to workers per unit of time or per unit of output. Substitution…

Q: The graph shows a market for labor. Draw a line that illustrates a minimum wage that creates…

A: Minimum wage is a type of price floor. It is the legal minimum price that can be charged for a good.…

Q: What industry does China have a labor shortage. Explain

A: China is experiencing a growing labor shortage, putting pressure on the manufacturing sector. While…

Q: 7. The demand curve for labor shows what? a. The demand for labor is immune to wage pressures. b.…

A: Explanation: Demand curve for labor indicates the negative relationship between wages and quantity…

Q: The increase in the number of well-paying jobs available to women that resulted from, among other…

A: A supply function is a mathematical model that shows the relationship between the price and the…

Q: a market failure. a. b. Consider the figure below. It represents a competitive market in which there…

A: In a free market, equilibrium is determined by the interaction of forces of demand and supply.…

Q: DRAW THE PRICE FLOOR AND EXPLAIN DETAILS- DFINITION, RESULTS ETC

A: Definition - Price floor is done by the government in order to protect the producers from prices…

Q: nese are kinds of rent EXCEPT o Differential rent

A: To find : Kind of rent except which.

Q: What happens to the supply curve when the price of the factor of production would rise?

A: A rise in the price of factors of production, is a part of other factors other than the price change…

Q: Table 6.2.1 gives the supply and demand schedules for teenage labour in Genoa City. In an…

A: The unregulated market refers to free market system where the market forces of demand and supply…

Q: use of a graph how is an increase in minimum wage shown?

A: Equilibrium is achieved in the market where labour demanded equals labour supplied at that…

Q: what is price and unemployment?

A: Prices are employed in a free market economy to allocate products and resources. Prices are used all…

Q: The government raises the minimum wage from $7.25 to $10.00 per hour. What is the effect on the job…

A: Minimum wage is a price floor that makes it illegal for an employer to pay employees less than a…

Q: Use the following table to answer the next five questions. Market for Corn Year Price Quantity…

A: Demand curve is the downward sloping curve.  Supply curve is the upward sloping curve.  Equilibrium…

Q: How will a decrease in the wage rate of pizza makers affect the market for pizza?

A: the answer is given below

Q: What Republicans party think about Minimum wage?

A: The legal minimum compensation that a company must provide to its employees for their labor is known…

Q: Assume that Kim deposits $1,500 in currency in the Trusty Bank. Later that same day Akio negotiates…

A: Money supply refers to total monetary supply available at a point of time in economy.Money supply…

Q: If you worked for a union, would you accept higher wages if it meant others would be laid off? Why…

A: A union is formed when workers of a particular industry or company come together as a group in order…

Q: 19. Every semester there is an active market for engineering tutors as students scramble to master…

A: Labor demand shows the quantity of labor employers wish to hire at any given wage rate. Labour…

Q: The New York Times cost $0.15 in 1970 and $2.00 in 2011. The average wage in manufacturing was $3…

A: % increased = [(Increased price - Old price) / Old price ]*100

Q: Over the past 40 years, technological advances havereduced the cost of computer chips. How do…

A: Equilibrium is attained in the market at the point where the demand and supply intersect each other.

Q: Explain how to find the equilibrium priceand quantity for a factor of production.

A: A rational producer will be in equilibrium when output is maximized within a given cost or cost is…

Q: Predict how each of the following events will raise or lower the equilibrium wage and quantity of…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: The graph represents a labor market. a. What is the equilibrium hourly wage? $ per hour D 3- b. What…

A: In the mentioned graph, there are two curves that are demand and supply. Equilibrium is attained…

Q: Analyze the factors that can shift the supply curve. Provide real-world examples for each factor.

A: Understanding the behaviour of the supply curve in financial markets is central to dissecting how…

Q: A seller can sells 3 diamond rings at a price of $12000 each . If he sells 4, his MR will be $10500.…

A: The price of 3 diamond rings = $12000 each Marginal revenue from the 4th ring = $10500 The price at…

Q: Over the past 30 years, technological advances havereduced the cost of computer chips. How do you…

A: Substitute goods: The goods which can be used in the place of other goods or the goods whose demand…

Q: Are California businesses suffering from the new  $15 minimum wage?

A: Minimum wage is the minimum and compulsory wage that need to be paid to the employees legally by…

Q: The producer's demand for a

A: To find : By which factor does producer demand is governed.