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Questions asked by the same visitor
In the long run, the profits for a monopolistic competitor (in terms of a return on its investment) will be
Weegy: The demand will decrease and average total cost will increase. This means in the long run, a monopolistically competitive firm will make zero economic profit. (More)
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Asked 4/2/2012 1:28:02 AM
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Why might an increase of the minimum wage in the United States impact unemployment rates?
Weegy: The majority of workers are minimum wage earners and minimum wage is not enough to support one person let alone support a family. It makes it hard to supply the basics like shelter, heat, food, and clothing. [ People who graduate with bachelor degrees earn about twice as much as high school graduates do. Plus, college can prepare people for a well-rounded life and they will more than likely find a job that they will enjoy; whereas a high school graduate will end up in a job they are forced to take just to take care of themselves and/or their family. A higher wage will raise the cost for certain workers like keeping older workers for their experience and this will cause firms to cut jobs and reduce the hours for their employees which will cause unemployment to rise. ] (More)
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Expert Answered
Asked 4/4/2012 11:53:30 PM
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