This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Equilibrium in the Labor MarketPenny started a company that produces and ships Penny Blossoms, cute ... (Read 373 times)

vowens

  • Full Member
  • ***
  • Posts: 154
on: Nov 23, 2022
Equilibrium in the Labor Market

Penny started a company that produces and ships Penny Blossoms, cute hair barrettes. She currently pays her workers a wage of $1.35 per barrette and has other costs of $0.45 per barrette, resulting in a price of $1.8 per barrette. At this price, she sells 1080 Penny Blossoms per week. Suppose her workers form a union and force her to increase their wages to $1.95 per barrette. Other costs of production don't change.
If the price elasticity of demand for the barrettes is 1.35, after the wage increase, total spending on labor will change from ________ to ________.
◦ $1458.00, $947.70
◦ $1944.00, $947.70
◦ $1944.00, $1158.30
◦ $1458.00, $1158.30
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by vowens on Nov 23, 2022

char00char

  • Full Member
  • ***
  • Posts: 173
Reply #1 on: Nov 23, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 42% of students answer this correctly


vowens

  • Member
  • Posts: 154
Reply 2 on: Nov 23, 2022
:D TYSM

DylanD1323

  • Member
  • Posts: 314
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Faulty outlooping produces lambda phage containing bacterial DNA Faulty outlooping produces lambda phage containing bacterial DNA
Dissolution of the Geosphere Produces Karst Terrain Dissolution of the Geosphere Produces Karst Terrain
Child Labor Rates and GDP Worldwide Child Labor Rates and GDP Worldwide
Efficient Allocation of Labor between Sectors Efficient Allocation of Labor between Sectors
Female burnet moths (Zygaena filipendulae) perch on purple blossoms Female burnet moths (Zygaena filipendulae) perch on purple blossoms
Application of the Hardy–Weinberg equilibrium Application of the Hardy–Weinberg equilibrium
Video: Elementary kinetics

For a complete list of videos, visit our video library