The Worker Adjustment and Retraining Notification Act (WARN) requires employers with 100 or more employees to provide notification 60 calendar days in advance of plant closings and mass layoffs. Advance notice gives workers and their families transition time to adjust to the prospective loss of employment, seek other jobs, or get necessary training. Some employers complain that WARN reduces necessary flexibility and makes them reluctant to open new production facilities. How are barriers to entry and exit similar? How are they different?
Answer to relevant Questions“A higher minimum wage means some low wage workers will get fired because there will be less money available for labor costs. An international minimum wage, scaled according to the working conditions and cost of living ... The long-run supply curve for a given competitive firm can be written as QF = -250 + 8P or P = $31.25 + $0.125QF. Explain why the amount supplied by 50 such competitors is determined by multiplying the first expression by ...Farm Fresh, Inc., supplies sweet peas to canneries located throughout the Mississippi River Valley. Like many grain and commodity markets, the market for sweet peas is perfectly competitive. With $250,000 in fixed costs, ...Assume that you are willing to pay $1,100 for a new personal computer that has all the “bells and whistles.” On the Internet, you buy one for the bargain price of $900. Unbeknownst to you, the Internet retailer’s ...A number of domestic and foreign manufacturers produce replacement parts and components for personal computer systems. With exacting user specifications, products are standardized and price competition is brutal. To ...
Post your question