What are the vertical restraints?

Q: What are the possible effects of minimum wage increase to the economy?

A: Minimum wage is the lowest wage below which an employee cannot hire workers.

Q: Who gave the modern theory of rent in economics

A: Answer in step 2.

Q: Does the old boy network operate in favor of men and can women get the job only if they accept to…

A: Old boy network refers to group of boys pass-out from various prestigious colleges and now they are…

Q: Answer the following questions with the graph and match the key words with the correct box.   a)…

A: a) Before the government regulation, the price of crab is determined by the intersection of the…

Q: Efficiency wage is another name for the minimum wage. Select one: O True O False

A: A wage is a payment made by an employer to an employee in exchange for a security (an projected…

Q: Discuss the type of price control that can be implemented by a government to protect vulnerable…

A: Price controls are government-imposed minimum and maximum prices for specific goods and services..…

Q: How does the equilibrium price and quantity change when there are demands to increase wages? Are…

A: When talking about equilibrium price and quantity in the market, it can be said that equilibrium…

Q: Using the diagram, explain the impact of minimum wage.

A: In the labor market, the wage rate of the workers highly depends upon the demand and supply of…

Q: What made slavery “peculiar” in the United States?

A: Slavery  means the act of legally owning and controlling those who are obligated to labour for or…

Q: Explain Federal Trade Commission (FTC)?

A: Consumers can easily submit a complaint with the FTC by calling their toll-free hotline. After…

Q: What is a minimum wage? Explain why it may fail to help the poor households in an economy.

A:

Q: What happens when supply is more elastic than demand; and vice versa?

A: The measure which depicts the percentage change in quantity being demanded with respect to the…

Q: what are the disadvantages of rise in minimum wage

A: The minimum amount of compensation that a business is expected to pay wage workers for the work…

Q: We've seen how many economists vehemently oppose price controls, saying that they'll create either…

A: Price controls are laws imposed by the government to limit pricing. There are two types of price…

Q: Are modern price controls such as ceiling and floors, similar? Why or why not?

A: Price ceiling is below equilibrium price level.

Q: why there were black markets

A: In an economy, black market is considered as a place for illegal exchange of goods and services by…

Q: Walmart employs the majority of people in small rural town. It's demand for labor is given by…

A: Hi Student, Thanks for posting the question. As per the guideline, we are providing answer for the…

Q: how's has pete actions illustrated the law supply

A: The law of supply states that keeping other factors constant, an increase in price results in an…

Q: What is the economic argument for government-funded preschool and community college? Consider AS and…

A: Education is fundamentally a state liability toward the general population. Most nations on the…

Q: When compared to the results in competitive markets, monopoly markets can be expected to have…

A: In a monopoly market structure,  There exists a single seller. There exists high barriers to entry…

Q: What would happen if the labour market is dominated by a monopsonist, and the government sets a…

A:

Q: The more elastic the labour supply is, the smaller the wage paid by a monopsonist. True or False?

A: 1) Monopsony: In a monopsony market, a single employer holds significant control over the supply of…

Q: Using the same given, over what range of prices is y elastic with respect to p?

A: Elasticity of demand is defined as type responsiveness of the quantity demand when price of the…

Q: What is the difference between the primary market and thesecondary market?

A: A market is a place where the trading, buying and selling of the goods and services, commodities,…

Q: What is the right of subrogation? When does the right of subrogation arise?

A: Subrogation by contract is a common occurrence in insurance contracts.

Q: what impact does minimum wages have on the labor market? Discuss giving examples

A: The impacts of the minimum wage on the labor market are the following: Unemployment Uncompetitive…

Q: If firms were controlled by workers, would they likely hire more or fewer workers? Why?

A: Introduction The topic is related to wages of the workers in firm or a company.

Q: Discuss the differences between capitalist and command economy.

A: Economy: It refers to the system of organizing money, industry, and trade of a country or region.

Q: How do the principles of contract law support public policy?

A: Contracts are crucial in our lives because they legally bind the parties involved in a relationship.…

Q: Draw a graph of a bilateral monopoly and explain how market wages are determined

A: In a bilateral monopoly, there is only one buyer and one seller in the market. The market wage is…

Q: How does train law negatively impact poor households in the Philippines?

A: The TRAIN Law or the Tax Reform for Acceleration and Inclusion is defined as a tax reform act which…

Q: What is marginalism?

A: Macroeconomics: The study if the economy as a whole or in totality is termed as macroeconomics. For…

Q: there a better alternative to imposing a price ceiling?

A: A price ceiling is a government imposed restriction on prices determined in the market by forces of…

Q: Give reasons why there should be no minimum wage laws

A: Minimum wages are defined as the minimum amount of remuneration required by an employer to pay wage…

Q: With respect to supply and demand, please give a specific example where a supply and demand were…

A: The whole world demolished due to novel Covid-19 pandemic outbreak. The global lockdown was also…

Q: ow does a Concentration Ratio number can help understand whether a market is concentrated or not?

A: Market concentration: This method is used when the smaller firms try to account for large chunks of…

Q: How many states have increased their minimum wage since 2009?

A: As employees are motivated by rising salaries, raising the minimum wage aids in enhancing employee…

Q: should the federal government raise the minimum wage? Explain

A: Increasing the minimum wage would also boost consumer spending, boost company profits, and help the…