The Government had implemented minimum wage of RM1,200.00 in 57 cities and towns effective 1 January 2020. a) Describe how the new wage will benefit employees in the urban areas

Q: The use of raw materials is an important element of the non-price determinant known as…

A: The non-price determinant is a factor that influences the demand and supply for goods apart from…

Q: A wage subsidy will:     reduce the number of workers employed.   increase the unemployment…

A: To determine the effect of a wage subsidy in the labor market.

Q: Excise duty is also known as

A: Hi! thanks for the question but as per the guidelines we can not answer the opinion-based questions.…

Q: Many professional sports teams operate under a salary cap. This means that teams typically have a…

A: Given:- Salary cap of $100 million $70 million already committed to player salaries Available…

Q: Which of the following is the most likely result of an increase in the minimum wage? a. a decrease…

A: In minimum wage law, there is a minimum wage that needs to be paid to the laborers, it is generally…

Q: Its is known that the demand function for a product is P = 24 - 1/2Q and the supply function Q = 4 +…

A: P = 24 - 1/2Q   Q = 4 + 2P Equilibrium: Q=22 units, P= IDR13

Q: Jerry earns a base salary of $50,000 as a photographer and is subject to the following hypothetical…

A: In this question, Jerry earns a base salary of $50,000 as a photographer and he is subject to the…

Q: Explain the critical shortage nationwide of bilingual teachers and give a possible solution to this…

A: Across the United States, many regions observe that they are hard to find bilingual teachers. Most…

Q: Meta-analysis helps researchers do which of the following: a. Investigate the effects of minimum…

A: Economics is used to study how scarce resources on earth can be utilized efficiently to satisfy…

Q: Describe the original rationale and purpose of the creation of a “minimum wage. When did this happen…

A: The original rationale and purpose of the creation of a “minimum wage The minimum wage was…

Q: The demand for mill worker hours is given by Qº = 1,000 – 70W, where W is the wage rate per worker…

A: QD = 1000 - 70W    (Labor demand equation) QS = 25W - 140       (Labor supply equation) At…

Q: kware is planning to introduce a new line of cast-iron pans. A marketin price-demand and…

A: *Answer:  Find the quadratic model for the given price and demand data as shown below. From the…

Q: Suppose demand and supply are given by Qd = 60 - P and Qs  = 1.0P - 20. a. What are the equilibrium…

A: As per our guidelines only 3 sub parts of a question are answered . The equilibrium in a market is…

Q: On April 1, 2009, in the middle of a recession, the government of the province of Ontario, Canada…

A: A recession is a situation in the economy shown by a downward trend in the business cycle. The…

Q: Larry is a retired teacher who lives in New York City and provides math tutoring for extra cash. At…

A: The elasticity of labour supply refers to the ratio of percentage change in labour supplied with…

Q: An effective minimum wage policy in a competitive market will increase unemployment and increase the…

A: Elasticity is the responsiveness to a change in price, in this case its wage. If its elastic, then…

Q: Eric earns a base salary of $50,000 as a shipwreck diver and is subject to the following…

A: Marginal tax rate on drive:Eric already earns the $50,000, so an extra earning income $5,000 above…

Q: If the minimum wage is set   A. equal to the equilibrium​ wage, it will create a shortage of labor.…

A: Answer- above the equilibrium wage, it will create unemployment.

Q: Describe the impact of the federal government setting the federal mirlemum wage at a price that is…

A: The following graph demonstrates the situation if the minimum wage is set above the equilibrium.

Q: If the government imposes a minimum wage which is lower than the equilibrium wage rate in the market…

A: A labor market refers to the platform where households supply labor to earn wages while producers…

Q: imedietely before and after natura disasters demand may outstrip supply for certain products such as…

A: After the natural disaster demand outstripped supply means demand is more than supply.

Q: Deborah is a stay-at-home parent who lives in San Francisco and does some consulting work for extra…

A: Given information: Initial wage rate = $20 per hour Final wage rate = $35 per hour  Working hours at…

Q: Institutions such as labor unions and large corporations are able to set wage rates without regard…

A: Labor Union is the organisation set up by workers in a particular industry, trade or company.

Q: The town of Bookville has a massive public library system. Bookville's municipal government faces a…

A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…

Q: Demand Function. The Creative Publishing Company (CPC) is a coupon book publisher with markets in…

A: 1. Q = 5000 - 4000P + 0.02Pop + 0.25I + 1.54A According to the question, after inputting the values,…

Q: Q29 a government mandated price which is set below the equilibrium price in order to prevent thr…

A: The government imposes minimums and maximums in the market on the price of certain goods and…

Q: If older workers have a tax elasticity of labor supply equal to 0.20, by how much will their work…

A: Tax elasticity of labor supply refers to the responsiveness of labor supply to a change in the tax…

Q: Section A: Instruction: This section is mandatory and contains only one question. Question 1: There…

A: Answer -

Q: An increase in the minimum wage is likely to the quantity of labor demanded and at the same time is…

A: Answer- decrease : increase

Q: The following graph input tool shows the daily demand for hotel rooms at the Big Winner Hotel and…

A: A consumer's desire to buy products and services, as well as their willingness to pay a price for…

Q: From time to time, Congress has raised the minimum wage. Some people suggested that a government…

A: LS=10w LD=90-10w

Q: The Government had implemented minimum wage of RM1,200.00 in 57 cities and towns effective 1 January…

A: The government of Malaysia have raised the minimum wage from RM 1,100 TO RM 1,200 in selected 57…

Q: Distinguish carefully between a minimum wage and a wage subsidy as alternative policies to assist…

A: Minimum Wage: The minimum wage is a remuneration level that has to pay by the employer and the…

Q: Given the Supply chain cost for a service is PKR 195 and the customer value is PKR 225. Determine…

A: Supply Chain Surplus:- Revenue generated from customer - Total cost incurred to produce and deliver…

Q: with the help of under mentioned equations find equilibrium price and equilibrium quantity: Qs=35+8p…

A: Qd= 106-2p Qs=35+8p

Q: Describe the impact of the federal government setting the federal minimum wage at a price that is…

A: Minimum wage law is imposed by the central or state government stating that employees or labours…

Q: 32. Factors contributing to the rise in world hunger include all of the following EXCEPT (A) unequal…

A: World hunger is a major problem because millions of people around the world are still too poor to be…

Q: If older workers have a tax elasticity of labor supply equal to 0.25, by how much will their work…

A: Tax elasticity: It relies upon the relative value versatility of market interest. At the point when…

Q: Eileen is a college student who lives in San Francisco and does some consulting work for extra cash.…

A: Given:  Wage1 = $25, Willingness to work is 4 hours per week Wage 2 = $40, Willingness to work is 10…

Q: Which of the following would occur if minimum wage in Ottawa is above the equilibrium wage? quantity…

A: Minimum wage is an example of price floor. Wage cannot fall below this level.

Q: An effective minimum wage imposes a price ceiling on the wages of various categories of low-skill…

A: Minimum wages have been defined as “the minimum amount of remuneration that an employer is required…

Q: Canada: Electric Vehicle Subsidy Program Even though controversial, electric vehicles (EVs) seem to…

A: Answer -

Q: The Government of a country has implemented a higher minimum wage in 57 cities and towns effective 1…

A: The Government of a country has implemented a higher minimum wage in 57 cities and towns effective 1…

Q: In an industry that requires workers with specific skills, initially the market for labor is in…

A: When number of qualified workers increases the competition among the workers also increases.

Q: If older workers have a tax elasticity of labor supply equal to 014, by how much will their work…

A: E = 0.14 Q1 = ? Q2 = 50 T = 20   Now, E = {(Q2-Q1)/(Q2+Q1)/2}/T 0.14 = {(50-Q1)/(50+Q1)/2}/20 2.8 =…

Q: Suppose demand and supply are given by Qd= 60 - P and Qs= 10P - 20. a. What are the equilibrium…

A: a. The equilibrium in the economy is obtained at the point where the demand and supply become equal…