Unionization Provides _____ in Certain Occupations, And, as a Result

question 54

Multiple Choice

Unionization provides _____ in certain occupations, and, as a result, wage rates in these occupations have a tendency to _____.

• A)barriers to entry; decrease
• B)barriers to entry; increase
• C)ease of entry; decrease
• D)ease of entry; increase
• E)higher level of employment; decrease

Identify the relationship between marginal benefit, marginal cost, and the maximization of total benefits.

Assess the effect of external changes (such as price changes or external costs) on the perceived benefits and costs associated with an activity.

Distinguish between constant, increasing, and decreasing marginal costs and benefits.

Calculate total profit or benefit given data on marginal costs and benefits.

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Definitions:

Standard Variable Overhead Rate

A predetermined rate used in costing to allocate variable manufacturing overhead to individual units of production based on a standard amount of an allocation base, such as direct labor hours or machine hours.

Direct Labor-hours

A measure of the amount of time spent by workers who are directly involved in the manufacturing process.

Variable Overhead Item

Costs that vary with the level of production output, such as utilities or materials, and are not fixed over the short term.

Rate Variances

The difference between the actual rate paid for inputs and the standard rate expected, often analyzed for labor or overhead rates.