A schedule or statement that lists all production costs incurred by a business over a given time period is known as a cost of goods manufactured (COGM) in management accounting.
What Methods Are Used to Determine Direct Materials?We must take the Raw Materials Inventory T-account into consideration in order to ascertain the actual direct materials utilized by the company for manufacturing. The inventory of resources that are awaiting us in production is referred to as the raw materials inventory. For instance, the debit side of the T-Account for raw materials inventory would be reported if a corporation bought raw materials for use.
Describe WIP inventory?Additionally, if a certain quantity of raw materials was requested for use in production, that quantity would be removed from the raw materials inventory and moved to the WIP Inventory. Direct and indirect materials may both be included in the raw materials inventory. To calculate the number of direct materials used, beginning and ending balances must also be used. Let's look at the next raw materials T-account as well.
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which of the following are typical types of mutual funds? multiple select question. open exchange exchange-traded open-end closed-end closed-traded
The typical types of mutual funds are mentioned below:
What are mutual funds?
Mutual funds are investment vehicles that pool together money from multiple investors and use it to buy a diversified portfolio of stocks, bonds, or other securities. Mutual funds are managed by professional fund managers who are responsible for selecting the securities in the fund and managing the portfolio.
Open-end mutual funds: Open-end mutual funds are the most common type of mutual fund. They are continuously open to new investors and do not have a fixed number of shares. Investors can buy and sell shares in an open-end mutual fund at any time, and the fund is required to buy back shares from investors when they want to sell them.Closed-end mutual funds: Closed-end mutual funds are similar to open-end mutual funds, but they have a fixed number of shares that are not continuously offered for sale. Investors can only buy shares in a closed-end mutual fund when they are initially issued, and they can only sell their shares on the secondary market.Exchange-traded funds (ETFs): ETFs are a type of mutual fund that is traded on an exchange, like a stock. They are similar to open-end mutual funds, but they are not required to buy back shares from investors when they want to sell them. Instead, investors can buy and sell shares in an ETF on the open market, like a stock.Index funds: Index funds: are a type of mutual fund that tracks the performance of a specific market index, such as the S&P 500.Hence, the types of mutual funds are open-end, closed-end, exchange-traded and index funds.
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Financial Analysis Project
Requirements:
You will use the Financial Statements for Coke and Pepsi as provided on their websites Based on all of your calculations and observations described above, make a recommendation as to which company would be a better investment. Give the reasons for your conclusion.
Investors may create a more complex picture of a company's financial profile by utilizing a variety of methodologies, such as horizontal, vertical, or ratio analysis.
What is a financial study of a project?
Project managers do financial analyses to see if a project will be a successful endeavor and will justify monetary expenditure. Every stage of a project, not just the planning stages, should involve conducting financial analysis.
What is an example of a financial analysis?
Analysis of a company's performance and trend using financial ratios, such as the net profit ratio, which is determined by dividing net profit by sales, is an example of financial analysis.
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A _____ consists of members from various parts of the organization or even from outside the organization.Select one:a. manager-led teamb. product design teamc. cross-functional teamd. virtual team
A cross functional team consists of members from various parts of the organization or even from outside the organization.
What is cross functional team?Cross-functional teams are collections of employees from many departments within a business, such as marketing, product, sales, and customer success. These can be working groups where each participant is a part of both their functional team and the cross-functional team, or they can be the main organizational structure.
Cross-functional Teams' Advantages
Because customers are demanding a higher level of consistently tailored, high-touch customer experience, cross-functional teams are becoming more and more common. The following are some advantages of cross-functional teams:
1.enhanced collaboration between functional domains
2.increased product and process innovation
3.shortened turnaround times for important customer touchpoints
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Which of the following taxpayers are not required to make estimated payments?
Option c, An employee with appropriate withholding and no other income who works at a local department store.
Estimated tax payments must be made by whom?If an individual expects to owe $1,000 or more when their return is filed, including sole proprietors, partners, and S corporation owners, they are typically obliged to make anticipated tax payments.
What are the expected tax payments in detail?A quarterly tax payment known as "estimated tax" is made based on the filer's declared income for the quarter. Small business owners, freelancers, and independent contractors make up the majority of people who must pay quarterly taxes. Unlike regular employees, they do not have taxes immediately taken out of their paychecks.
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The correct question is:
Which of the following taxpayers are not required to make estimated payments?
a. A car mechanic who is self-employed and earns $50,000 a year.
b. A wealthy individual whose earnings are from corporate dividends.
c. An employee who works at a local department store with appropriate withholding and no other income.
d. All of the above must make estimated payments.
use the chart for a firm in perfefctly competive labor market to answer the foellow questions assume the market price of the product is $3 and the wage is $20
The wage is 5 units of labor; 5 units of capital.
Calculation:
combination of labor and capital that would satisfy the input hiring rule that minimizes the cost of production, if the price of labor is $10 and the price of capital is $20 is :
Wage * MPl = rental capital* MPk
10* 10= 20* 5
Wages and salaries, income from human labor. Technically, wages and salaries cover all remuneration paid to a worker for manual or intellectual work, but they do not represent the earnings of the self-employed. you must give him before sunset of his day because he is poor and dependent on him.
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which of the following is not one of the costs considered in aggregate production planning? a. inventory cost b. firing (layoff) cost c. subcontracting cost d. capital equipment cost
d. capital equipment cost isn't one of the charges taken into consideration in mixture manufacturing planning.
The required details about capital equipment cost is mentioned in below paragraph.
Capital equipment cost is typically described as an asset with an acquisition cost that exceeds a fixed amount. To be a capital asset, the object should actually have a lifespan of extra than a year. The objects usually also are required to carry out or help in generating a product, promoting a product, or supplying a service. Different establishments and corporations may also regulate the definition and acquisition charges to in shape meet their needs.This kind of gadget can encompass objects received in some of ways, and that they may be purchased, leased, or donated. There are a few objects which could seem to fulfill the overall necessities however are typically excluded from the class, along with land and software. Items which can be protected range from enterprise to enterprise and enterprise to enterprise. In instructional facilities, Capital equipment cost may also encompass computers, X-ray machines, and microscopes. In the mining enterprise, objects on this class should encompass drills, sifters, or cargo containers.
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The equity method of accounting for investments in voting common stock is most appropriate when: The investor's accountant is clever enough to apply the equity method. Only these times when the investor owns 10 to 49% of the voting stock. The investor intends to hold the common Stock indefinitely. The investor can significantly influence the investee. What situation requires one company to produce a consolidated financial statement with its investee? On January 1, 2014, Piedmont Inc. spent $200,000 to acquire 40% of the voting common stock of Taylor Company as a long-term investment. The data from Taylor's financial statements for the year ended December 31, 2014, include the following: Net income $150,000 Dividends paid $75,000 What should be the long term investment account balance for Piedmont at December 31, 2014? Show your calculations. Could the company's declaration of intent of their investments as "available for sale" rather than as "trading securities" possibly be used to manipulate reported income? Why or why not? What does an "other than temporary" (aka OTT) loss mean and what is an example of such event? Why would GAAP allow certain investments to be "written up" to their fair market value when, for virtually all other assets(inventory, property, intangibles), no "Write up" in value is allowed? In which financial statement, and in which section of that financial statement does "Accumulated Other Comprehensive Income" get disclosed?
Answer:yes it did
Explanation: the former calculations would be equaled to -35 so 45 celcuse north would be yes so its not negative.
You work for Dr. Zhang, the autocratic dictator of Zhouland. After taking an economics course, you decide that devaluing your currency (Zhoullars) is the way to increase GDP. Following your advice, Dr. Zhang orders massive increases in the supply of Zhoullars, which reduces the value of Zhoullars in world markets. Use the AD-AS model and assume the economy was in a long-run equilibrium before this change. Remember to consider only this change as you determine your answers.
In the short run, the policy will cause the price level to _____, real GDP to _____, and the unemployment rate to _____.
a. increase; decrease; increase
b. increase; increase; increase
c. increase; increase; decrease
d. decrease; increase; decrease
The policy will result in an increase in real GDP, a decrease in unemployment, and an increase in the price level in the short term.
Describe a dictator.A political figure with absolute power is a dictator. A dictatorship is a country where one or a few dictators are in power. the name of a Roman dictator who was chosen by the Roman Senate to lead the republic in times of emergency (see Roman dictator and justitium).
The term "dictator" came to be almost entirely employed as a non-titular term denoting repressive control, much like the term "tyrant" and, to a lesser extent, "autocrat." The term "dictator" has been applied to a wide range of leaders who have assumed power in many types of regimes, including one-party states, dominant-party states, and civilian governments run by an individual.
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Van Dorp Inc. in Orlando wants to increase the amount of its petty cash fund from $250 to $300. The journal entry for this increase is....
A) Petty cash $300
Cash $300
B) None of these
C) Cash $300
Petty cash $300
D) Petty cash $50
Cash $50
Unresponsive to changes in product pricing, but expected to be responsive in the long run.
What exactly do users presume by a product?
A product is an item that is for sale. A item can be either a provider or a physical item. It can be physical, virtual, or cyber. Every product has a cost, and every product has a price. The price that is charged is set by the market, the excellence, the marketing, and the targeted segment.
What are the seven different types of products?
The eight types of goods are as follows:
Premium or high-end items.Unwanted products.Products that are specialized.Commodities.Preferences of customers.Products for your convenience.Goods that are complementary.To know more about Product visit:
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Article 3, Section 49a of the Texas Constitution, also known as the pay-as-you-go limit, requires that
the dedicated funds are mandated in the constitution and cannot be altered.
there is a specific margin of error allowed in the budgeting process.
Texas maintain a balanced budget, meaning that spending from the General Revenue Fund cannot exceed projected available revenue.
since taxes are paid into the state on a yearly basis, the legislature is able to set an annual budget.
Article 3, Section 49a of the Texas Constitution, also known as the pay-as-you-go limit, requires that Texas maintain a balanced budget, meaning that spending from the general revenue fund cannot exceed projected available revenue. Option 3
What is the Texas constitution?The preservation of our free institutions and the continued existence of the Union depend on the right of local self-government, which is guaranteed to all States without restriction. Texas is a free and autonomous State that is only bound by the United States Constitution.
Texas must maintain a balanced budget, which means that expenditure from the general revenue fund cannot exceed anticipated available revenue, in accordance with Article 3, Section 49a, generally known as the pay-as-you-go restriction.
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The federal government or private associations might fund _____ to help an entrepreneur finance a new business.
- grants
- loans
- investments
- none of the above
The federal government or private associations might fund grants to help an entrepreneur finance a new business. Thus option A is correct.
What is finance?The act of raising capital or funding for any form of spending is known as finance. It describes the act of directing specific financial resources—such as credit, debts, and return on capital those parts of the economy that require them most and can use these most effectively.
Grants may be funded by the government or by private organizations. For a company to be taken into consideration, several criteria for grants must be satisfied. For instance, subsidies might be given to a female business owner or a company that specializes in technology.
Therefore, option A is the correct option.
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zahra buys a product from a high-end store, and the sales representative asks her to fill out a customer registration form so that she can avail discount offers and receive notifications about new products in the future. although providing one's mailing details is optional, zahra provides her details as she wants to be updated about any new products that the store has to offer. in this context, which of the following statements is true?
Zahra has chosen to receive the opt-in emails is the statement that is true if she buys product from high-end store.
What is a high-end store?High-End Stores are restricted to first-class department stores, first-class retail stores, and first-class boutiques that sell products that are substantially similar to Licensed Articles and are authorized by VEW in advance and in writing. These products must be sold by or on behalf of other prestige luxury brands. By the 30th of August of each Contract Year during the Term beginning with Year One, Syratech shall submit a list of proposed High-End Stores to VEW for approval or disapproval, and VEW shall act by the 30th of September of such Contract Year. Discounters and mass merchandisers that regularly conduct business by selling consumer items at prices below their suggested retail prices, including occasionally premium luxury consumer goods, are not considered high-end stores.
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Firms in a monopolistically competitive market structure maximize their profit by producing an output where a.Price equals average total cost, b. Marginal cost equals average total cost c. Marginal cost equals price d. Marginal revenue equals e. marginal cost
For a monopolistically competitive firm, at the profit-maximizing quantity of output, price exceeds marginal cost. Correct option (a)
Monopolistic competition is a sort of market structure in which several businesses are present in a given sector and make comparable but distinctive goods. There is no monopoly enjoyed by any of the businesses, and each one pursues its own interests without regard to those of the others.
An illustration of a monopolistically competitive market is the restaurant sector, which is present nationally. Most places have a large number of businesses, all of which are unique, and admission is simple. Each product includes a number of comparable alternatives that are offered by other businesses, including other eateries and fast-food joints.
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Full Question: For a monopolistically competitive firm, at the profit-maximizing quantity of output,
A. price exceeds marginal cost.
B. marginal revenue exceeds marginal cost.
C. marginal cost exceeds average revenue.
D. price equals marginal revenue
The socially efficient quantity is found where the demand curve intersects the marginal cost curve.a. Trueb. False
Wherever the marginal cost curve and demand curve connect, it is the quantity that is socially efficient.
Where the marginal cost curve and demand curve connect is where the socially efficient quantity can be discovered. Because a monopoly produces less than what is socially efficient, it causes a deadweight loss to society. Demand curves for goods that lack close replacements slope downward.
There are no fixed expenses, hence marginal cost equals average cost, as indicated by the label MC=AC on the marginal cost curve. The intersection of the demand curve and the marginal cost curve is where the competitive price (P subscript c) and quantity (Q subscript c) are discovered. This intersection is identified by the letter x.
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key jobs are uncommon and have unstable content, making them very difficult to evaluate using pay surveys. true or false
key jobs are uncommon and have unstable content, making them very difficult to evaluate using pay surveys - false.
Define pay survey?To determine a fair and competitive compensation for a company's employees, remuneration specialists and managers can use a salary survey. Data on the average or median income for a certain position, taking into account the region, industry, firm size, etc., is the survey's output.Produce median salary for each title by analyzing the pay in light of the employees' jobs (position). Write descriptions of the offices you have visited. Include all pertinent information that affects pay information, such as the number of offices (Branches), employees, and, if applicable, union representation.Employers should typically review the total wage structure every three to five years.To learn more about pay survey refer to:
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the yyy -component of the electric field of an electromagnetic wave traveling in the x x x direction through vacuum obeys the equation ey
The y-element of the electrical area of an electromagnetic wave visiting in the +x-path thru vacuum obeys the equation Ey=(375N/C)cos[kx−(2.20×1014rad/s)t] E y = ( 375 N/C ) cos [ k x − ( 2.20 × 10 14 rad/s)t ] .
The required details for Electromagnetic radiation (EMR) in given paragraph
Electromagnetic radiation (EMR) is composed of waves of the electromagnetic (EM) area, which propagate thru space and carry momentum and electromagnetic radiant power. All of those waves shape a part of the electromagnetic spectrum. Classically, electromagnetic radiation is composed of electromagnetic waves, which might be synchronized oscillations of electric and magnetic fields. Depending at the frequency of oscillation, distinctive wavelengths of electromagnetic spectrum are produced. In a vacuum, electromagnetic waves journey at the velocity of light, typically denoted c.
In homogeneous, isotropic media, the oscillations of the 2 fields are perpendicular to every different and perpendicular to the path of power and wave propagation, forming a transverse wave.
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T or F: Macroeconomics looks at the long run economic problems while microeconomics examines the short run problems
Macroeconomics looks at the long run economic problems while microeconomics examines the short run problems.
This statement is True.
Macroeconomics is the branch of economics that studies the performance, structure, behavior, and decision-making of the economy as a whole. For example, interest rates, taxes, and government spending are used to regulate economic growth and stability. This includes regional, national and global economies.
Macroeconomics is the branch of economics that studies the behavior and performance of the economy as a whole. It focuses on changes across the economy, including unemployment, growth, gross domestic product, and inflation.
Macroeconomic factors include inflation, fiscal policy, employment levels, national income and international trade.
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A business only has high-quality photos as creative assets. It's interested in testing video ads but doesn't have resources to create them. What solution should the business try?
Instant Experience
Slideshow
Single image
Stories
The business should try Slideshow to create testing video ads.
What is a slideshow?
A slide show is a presentation of a number of still images on an electronic display or projection screen, usually in a predetermined order. The adjustments may be made manually by the presenter or the viewer or automatically and at predetermined intervals. a projection of photographic slides, or images on a transparent substrate, viewed successively on a screen after being loaded into a projector. a screen-based presentation of digital images, occasionally with text, that is viewed sequentially.
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A deed transferring ownership of a 500-acre parcel of land, subject to the condition that you maintain the roads criss-crossing the land, is a __________.a. reversionary interestb. fee simple absolute interestc. fee simple defeasible interestd. possessory interest
A deed transferring ownership of a 500-acre parcel of land, subject to the condition that you maintain the roads criss-crossing the land, is a fee simple absolute interest. The correct option is B.
The absolute interest in the property is the complete right and ownership on the property or land. The absolute interest is also on the asset or real estate property.
The ownership of a 500 acre parcel of land comes under the fee simple absolute interest. The person takes the benefit on the asset or land due to the absolute interest.
Due to the absolute interest, the person or owner of the land has the legal rights on the asset and property.
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efficiency mis metrics focus on the extent to which a firm is using its resources in an optimal way, while effectiveness mis metrics focus on . group of answer choices understanding how successful a firm is at achieving its goals and objectives analyzing if a firm is doing the right things setting the right goals and ensuring they are accomplished all of these choices are correct
Throughput, speed of operation, as well as system availability are some examples of MIS performance measurements.
The influence of MIS on business operations, such as customer happiness as well as customer conversion rates, are measured by MIS effectiveness metrics.
In a market economy, businesses want to maximise their profits. The simplest way to do this is to increase product market revenues while lowering resource market expenses.
The best way to respond to this question would be to give concrete instances of your accomplishments and discuss the reasons that went into them. Then, describe how you used the lessons you learnt from each situation to advance your career and produce fruitful outcomes.
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We would expect the inventory turnover ratio for a ski shop to be ______________ than the turnover for a convenience store.
Lowers
We would expect the inventory turnover ratio for a ski shop to be lower than the turnover for a convenience store.
Why is higher inventory turnover better?Almost always, businesses aim for high inventory turnover. After all, having a high inventory turnover allows them to use less capital to finance their inventory. Increasing revenue relative to fixed costs like store leases and the cost of labor, it also aids in boosting profitability.
The inventory turnover ratio gauges how quickly inventory is transferred from a company's warehouse to its sales floor. A ski shop would most likely have a lower turnover because of the products it deals with.
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The balance on a credit card, that charges a 10.5%
APR interest rate, over a 1 month period is given in
the following table:
Days 1-3:
$150 (initial balance)
($50 purchase)
Days 4-20: $200
Days 21-30: $50 ($150 payment)
What is the finance charge, on the average daily
balance, for this card over this 1 month period?
Answer:
Explanation:To find the finance charge on the average daily balance for this credit card over a 1 month period, we first need to calculate the average daily balance for the month.
To do this, we need to determine the balance on each day of the month and then find the average of these balances.
For the first 3 days, the balance is 150 - 50 = 100 dollars.
For days 4-20, the balance is 200 dollars.
For days 21-30, the balance is 50 dollars.
The average daily balance for the month is therefore:
(100 + 200 + 50) / 30 = 350/30 = 11.67 dollars
Next, we need to determine the finance charge for the month. This is given by the formula:
Finance charge = (Average daily balance) * (APR / 365)
Substituting the values given in the problem, we get:
Finance charge = (11.67) * (APR / 365)
We are not given the APR in the problem, so we cannot determine the exact finance charge. However, we can use this formula to calculate the finance charge once we have the APR.
which of the following documents should a young person have in their estate plan? all of these a health-care proxy a will a durable power of attorney
A will, guardianship designations, healthcare powers of attorney, beneficiary designations, durable powers of attorney, and a personal letter of intent outlining your wishes in the event of your passing or incapacity are all part of an estate plan.
What exactly is a lasting power of attorney?
Absent a power of attorney that specifically states otherwise, the agent's authority ends should the principal suffer a mental impairment. In the event that the principal becomes incapable in the future, the power of attorney may, however, state that it will continue to be in effect.
A testamentary document. This legal document serves as the cornerstone of an effective estate plan.Being Trusted.Consistent Power of Attorney (POA)Legal Power of Attorney for Health (POA)the living willTherefore, a young person should have all the above-mentioned documents in their estate plan.
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Which of the following is NOT one of the main activities for a human resource manager? A. recruiting and selecting employeesB. training and developing employees C. coordinating marketing and production activities D. performance planning and evaluation E. organizational career management
A human resource manager's primary duties DO NOT include coordinating marketing and production efforts. As a result, decision (C) is the best one.
What is Human Resource management?In order to effectively and efficiently manage people in a company or organization and give it a competitive advantage, it is known as human resource management (HRM or HR).
It is made to maximize worker performance in support of a company's strategic goals. In order to effectively manage people inside firms, human resource management focuses on policies and systems.
The design of employee benefits, hiring, training, development, performance reviews, and reward management, including pay and benefits administration, falls within the purview of HR departments.
Hence, option (C) is accurate.
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7. Assume the required reserve ratio is 20 percent. If the Federal Reserve buys $80
million in government securities from the public, then the money supply will
immediately:
A. Increase by $80 million, but the maximum money-lending potential of the
commercial banking system will decrease by $80 million
B. Increase by $80 million, and the maximum money-lending potential of the
commercial banking system will increase by another $320 million
C. Increase by $80 million, and the maximum money-lending potential of the
commercial banking system will increase by another $400 million
D. Increase by $80 million, and the maximum money-lending potential of the
commercial banking system will increase by another $80 million
The Federal Reserve raises the discount rate, sells bonds, and maintains a tight money policy. These actions result in a decrease in excess reserves, which in turn results in a decrease in the money supply. Interest rates go up, investment spending goes down, and aggregate demand goes down when this happens.
What happens when the Federal Reserve System purchases government securities from the open market?
The economy's money supply rises when the Federal Reserve System purchases government securities on the open market. The cost of borrowing money by a business or individual is known as the interest rate, and as the money supply grows, so does the interest rate.
By exchanging bonds for cash, the general public receives an increase in the economy's money supply if the Fed purchases bonds on the open market. In contrast, when the Fed sells bonds, it removes cash from the economy in exchange for bonds, which reduces the money supply.
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Suppose that we deposit $8,400 at 7% interest compounded continuosly. How will our money grow?
The money will grow in a recursive way:
For first month: I = $4897.2; A = $13297.2
For second month: I = 7,752.26; A = $21049.46
What the continuous compound interest?In theory, continuous compounding means that your account balance is always earning interest, and that interest is fed back into your account balance, so you're also earning interest.
The 7% interest is an annual percentage rate (APR) – the total interest to be paid during the year.
Since interest is being paid monthly, we will earn 7/12 = 0.583%
P₀ = $8,400
r = 0.583%
I = $8,400 (0.583)
I = $4897.2
A = $8,400 + $4897.2
A = $13297.2
In the first month, we will earn $4897.2 in interest, raising our account balance to $13297.2.
In the second month,
P₀ = $13297.2
r = 0.583%
I = $13297.2 (0.583)
I = 7,752.26
A = $13297.2 + 7,752.26
A = $21049.46
To find an equation to represent this, if Pₙ represents the amount of money after n months, then we could write the recursive equation:
P₀ = $8,400
Pₙ = (1 + r) × Pₙ₋₁
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Which of the following situations would the integrating style of conflict management be inappropriate? a. when issues are complex b.when you believe you may be wrong c. when one party alone cannot solve the problem d. when an immediate decision is required
When an immediate decision is required the integrating style of conflict management would be inappropriate.
What is conflict management?Knowing how to recognise problems and handle them in a reasonable, equitable, and effective manner is the practise of conflict management. It is the process of resolving (seen) conflicts or differences resulting from, for instance, different ideas, goals, and wants. Since disputes arise frequently at work, it's critical that there be individuals on hand who are knowledgeable about disputes and how to resolve them. In today's market, this is more crucial than ever. Everyone wants to prove their worth to the organisation they work for, and occasionally this can lead to conflicts with other team members.
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the employment-at-will doctrine derives from question 2 options: employment contracts title vii of the civil rights act of 1964 the common law liberty of contract under the constitution
The employment-at-will doctrine derives from the common law. Option 3
What is meant by common law?The body of customary law that has been governed by the common-law courts of England since the Middle Ages is known as common law, often known as Anglo-American law. It is based on judicial decisions and is documented in reports of resolved cases.
Common law is based on all prior judicial decisions rendered in a common law court. These decisions include common law mandates for contract reading, patient-doctor confidentiality, copyright, and common law marriage, as examples.
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price discrimination refers to selling a specific product: group of answer choices where the difference between the price charged and the minimum average total cost is maximized. where the price charged by a purely competitive seller and the price charged by an imperfectly seller would be different. at more than one price when the price differences do not reflect cost differences. for different prices to the same person at two different points in time.
Price discrimination refers to the selling of a given product at different prices that do not reflect cost differences.
What does price discrimination entail?According to what the vendor believes they can get the customer to agree to, price discrimination is a sales approach where clients are charged varying prices for the same good or service. The merchant charges each consumer the maximum price they will allow in a pure price discrimination scenario.
Why is it against the law to price discriminate?When a company charges different clients different prices for the same commodity or service, this is referred to as price discrimination. Price discrimination is forbidden when it is done with the intention of hurting competitors under the Sherman Antitrust Act, Clayton Antitrust Act, and Robinson-Patman Act.
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If the government were to intervene and set a wage for unskilled labor above the market wage, then we would expect, relative to the market outcome,
a) an increase in the number of unskilled jobs available,
b) a decrease in the number of unskilled jobs available,
c) a decrease in the number of workers wanting unskilled jobs,
d) None of the above is correct.
If the government were to intervene and set a wage for unskilled labor above the market wage, then we would expect, relative to the market outcome, decrease in the number of unskilled jobs available.
In the case of a binding most salary, the predictable end result will be a scarcity of excessive-skilled, excessive incomes workers, who can't be compensated for the overall price they devise for his or her employers and certainly lessen the quantity of hard work effort and time they'll be inclined to provide available in the marketplace in response.
A minimal salary this is set above the equilibrium salary will cause a discount in the amount hard work demanded, and a upward push in the amount of hard work supplied. This occurs because, at minimal salary, the value of manufacturing increases, and therefore, employers hearthplace a few personnel to reduce at the value of manufacturing.
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