How high can the minimum wage go before it has a negative effect on employment and why?

Question:

Minimum wage has two different results in perfectly competitive and classical monophony. In case of perfectly competitive market minimum wage is effected by the demand and supply of labor.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

International Business Law And Its Environment

ISBN: 9781305972599

10th Edition

Authors: Richard Schaffer, Filiberto Agusti, Lucien J. Dhooge

See More Books

Question Posted: Aug 05, 2013 03:40 AM

See More Questions

Why does cigarette smoke have a negative effect on organ systems that are not in direct contact with the actual smoke?
How may regional integration have a negative effect on global trade and global integration?
Why does the media have a negative effect on teen girls dieting habits? Determine whether the survey question is biased. If the question is biased, suggest a better wording.
O 00:29:33 4. Let an be a convergent series and b, be a soquence such that 0 <2+ a, < b Which of the following statements are true? 10 I) The convergence or divergence of cannot be concluded. Im (2+...
A barge model 1 m long is tested in a towing tank at a speed of 1 m/sec. Determine the prototype velocity if the prototype is 150 m in length. The model has a 2-cm draft and is 10 cm wide. The drag...
An initial investment of $1,000 in an account grows to $1,477.46 at the end of eight years. If the annually compounded interest rate is unchanged over the life of the investment, What is the annual...
Ronda Rousey Fight Times Perhaps the most popular fighter since the turn of the decade, Ronda Rousey is famous for defeating her opponents quickly. The five number summary for the times of her first...
Sentry, Inc. was started on January 1, Year 1. Year 1 Transactions 1. Acquired $20,000 cash by issuing common stock. 2. Earned $62,000 of revenue on account. 3. On October 1, Year 1, borrowed $12,000...
An aluminum wheel rubs against an aluminum plate in such a manner that there is a 51.0 N force of kinetic friction between them, and the relative speed at which the two surfaces slide over each other...
Gilbert Sdn Bhd (Gilbert), Hebrew Sdn Bhd (Hebrew), and Jerald Sdn Bhd (Jerald) are three manufacturers in the same group of companies. Gilbert owns 80% of Hebrew, and Hebrew owns 60% of the equity...
The interest rate required by investors on a debt security can be expressed by the following equation: Interest rate = RRF + IP + DRP + LP + PRP + CRP. Define each term of the equation, and explain...
Suppose that the consumption function is given by C =270 +0.63Y -1,000R Rather than by the consumption function in Chapter 8. Add this consumption Function to the other four equations of the macro...
Consider the following process for generating binaries. A compiler is used to generate the object code for individual modules, and a linkage editor is used to combine multiple object modules into a...
Decide whether the given point is a feasible solution for the constraints \[\left\{\begin{array}{l}x \geq 0 \\y \geq 0 \\3 x+2 y \leq 10 \\2 x+4 y \leq 8\end{array}ight.\] a. $(1,3)$ b. $(2,1)$...
Solve the systems in Problems 15-26 by the substitution method. $\left\{\begin{array}{l}3 t_{1}+5 t_{2}=1,541 \\ t_{2}=2 t_{1}+160\end{array}ight.$
The supply for a certain commodity is linear and determined to be \[p=0.005 n+12\] whereas the demand is linear with \[p=150-0.01 n\] where $p$ is the price and $n$ is the number of items. What...
An analogy to Zeno's tortoise paradox can be made as follows. A woman standing in a room cannot walk to a wall. To do so, she would first have to go half the distance, then half the remaining...
What are the three main topics of calculus?
How do the actions of the hypothalamus and the pituitary gland affect the workings of endocrine glands?
The following data are supplied for the common stocks of Nikola Corporation, Tesla, Inc. and General Motors: Nikola Corp (NKLA) Tesla Inc. (TSLA) Close Price ($) Close Price ($) 67.53 30.00 40.81...
Monthly sales at Freeman International have been, in thousands, 45.2, 56.3, 54.8, 62.5, 74.5, 69.3, and 71.2. If the growth rate in salesexceeds 8%, the Chief Financial Officer will give himself a...
Using PepsiCos annual report, determine its current liabilities at December 29, 2007, and December 30, 2006. Were current liabilities higher or lower than current assets in these two years?
At December 31, accrued salaries payable totaled $3,500. On January 10, total salaries of $8,000 are paid. (a) Assume that reversing entries are made at January 1. Give the January 10 entry, and...
The steps in using a worksheet are presented in random order below. List the steps in the proper order by placing numbers 15 in the blank spaces. (a) _____ Prepare a trial balance on the worksheet....
Use the information below to answer the questions that follow. U.S. $ EQUIVALENT U.K. pound () 1.5939 Canada dollar (Can$) 1.0091 a. Which would you rather have, $100 or 100? CURRENCY PER U.S. $...
What are the molecular mechanisms underlying cellular respiration, and how do they facilitate the conversion of chemical energy stored in organic molecules into adenosine triphosphate (ATP) for...
How can advancements in respiratory diagnostics, imaging modalities, and pulmonary rehabilitation techniques enhance our understanding of respiratory pathophysiology and improve clinical management...

How high can the minimum wage go before it has a negative effect on employment and why?

Question:

Step by Step Answer:

I the above diagram as the minimum wage is set above the equilibrium wage the d...View the full answer

International Business Law And Its Environment

Students also viewed these Economics questions