Ask Question
BusinessBusiness
2 September, 09:32

Workers at a bicycle assembly plant currently make minimum wage if the federal government increase the minimum wage by $1.00 an hour it is likely that

a. the demand for bicycle assembly workers will increase.

b. supply of bicycles will shift to the right

c. supply of bicycles will shift to the left

d. firm must increase output to maintain profit levels.

+1
Answers (1)
  1. 2 September, 10:25
    0
    Workers at a bicycle assembly plant currently make minimum wage if the federal government increase the minimum wage by $1.00 an hour it is likely that supply of bicycles will shift to the left

    Explanation:

    Increasing the minimum wage raises the purchasing power of employers and, in effect, boosts the economy overall. Increasing the minimum wage would lead to narrowing the longstanding ethnic wealth gap. The present federal minimum is less than in 1956 in real value.

    Increasing minimum wages, apart from basic supply and demand principle, can also lead to more productive activities by businesses and harder work by workers. Workers may search for ways to improve productivity, for instance, to improve the performance of their workforce or to spend more in preparation for jobs.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Workers at a bicycle assembly plant currently make minimum wage if the federal government increase the minimum wage by $1.00 an hour it is ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Suppose you were living during the Great Depression. How might the events of that era have affected your future banking decisions?
Answers (1)
In the north, if the price goes up by $0.20 per pound, then the quantity supplied in the north goes up by 100 pounds per year. if the price of apples goes up by $0.20 in the south, what will happen to the quantity supplied?
Answers (1)
The inflation tax refers to A) higher inflation which requires more frequent price changes. B) taxes being indexed for inflation. C) the idea that, other things the same, an increase in the tax rate raises the inflation rate.
Answers (2)
One way to make it easier to track your progress toward success is A. offer stock to the public. B. improve your product. C. to keep adapting to the changing business environment. D. to set very specific short - and long-term goals.
Answers (2)
Cork Oak Corporation purchased a heavy-duty truck (not considered a passenger automobile for purposes of the listed property and luxury automobile limitations) on May 1, 2018 for use in its business.
Answers (1)
New Questions in Business
Audrianna gives a walking tour of a popular tourist city to one person for $ 49. To increase her business, she would lower the price by $2 per person for each additional person.
Answers (1)
A firm has a return on equity of 23 percent. The total asset turnover is 2.2 and the profit margin is 6 percent. The total equity is $5,600. What is the net income
Answers (1)
Income before interest and tax $20,000 Debt capital $100,000 Interest on debt capital 5% Tax rate 30% What is the amount of tax paid for the year? The amount of tax paid for the year is $.
Answers (1)
Town Crier has 10 million shares of common stock outstanding. 2 million shares of preferred stock outstanding, and 10 thousand bonds. If the common shares are selling for $28 per share the preferred shares are selling for $15.
Answers (1)
Suppose the yield on short-term government securities (perceived to be risk-free) is about 4%. Suppose also that the expected return required by the market for a portfolio with a beta of 1 is 10.0%. According to the capital asset pricing model: a.
Answers (1)
Home » Business » Workers at a bicycle assembly plant currently make minimum wage if the federal government increase the minimum wage by $1.00 an hour it is likely that a. the demand for bicycle assembly workers will increase. b.
Sign Up Forgot Password?