Answer:
d. increases the earnings of some low-skill workers while reducing the employment and training opportunities available to others.
Explanation:
Minimum wage is a form of price floor. It is the lowest amount that should be paid to labour for their services rendered. It is usually set by the government or an agency of government.
Minimum wage causes supply of Labour to exceed demand for Labour. Firms would demand less of Labour because of higher cost of Labour. Decreased demand for Labour would increase unemployment.
Minimum wage isn't a price ceiling but a price floor.
Minimum wage increases the income of Labour.
Answer:
The opportunity cost of each pipe and what is the sunk cost is $77 and $67 per pipe respectively.
Explanation:
Opportunity cost: The opportunity cost is that cost which is incurred to choose the best options with the available options.
Sunk cost: The sunk cost is that cost which is not recovered in the future. Its other name is the past cost. It does not help to make future decisions as if it is incurred then it cannot be recovered again
So, the opportunity would be the current price i.e $77
And, the sunk cost is $67 per pipe ($77 - $10)
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Answer:
Mostly Preventive Controls and feedback Controls
Explanation:
For this case is important to conduct preventive and feedback controls.
The definition of preventive control is "Controls that are used to keep a loss or an error from occurring". And is improtant to do these controls continuosly in order to ensure that the ethical behavior is accomplished by all the people analyzed.
The definition of feed back controls is "a process that owners and manager uses to evaluate if their teams meet the stated goals at the end of a production process"
And for this case these two controls are so important when we want to facilitate check ethical behavior since the conduct is something that needs to be measured in all the time in order to ensure the condition for any employee.
Answer:
A tract of land used for raising crops or livestockcan be called a field or a farm.