Total surplus decreases in a market when the government imposes a tax.
What is tax?Tax is a compulsory levy, impose on an individual or institutions by the government of a country.
When the government levies tax on the goods produced, producers will pass some of these costs on as an increased price. This means that consumers will ultimately decrease quantity demanded and reduce producer surplus.
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Suppose England exports cars to Australia and imports cheese from Mexico. This situation suggests that Group of answer choices England has an absolute advantage relative to Mexico in producing cheese, and Australia has an absolute advantage relative to England in producing cars. England has a comparative advantage relative to Australia in producing cars, and Mexico has a comparative advantage relative to England in producing cheese. England has an absolute advantage relative to Australia in producing cars, and Mexico has an absolute advantage relative to England in producing cheese. England has a comparative advantage relative to Mexico in producing cheese, and Australia has a comparative advantage relative to England in producing cars.
If England exports cars to Australia and imports cheese from Mexico. Then, "England has an absolute advantage relative to Australia in producing cars, and Mexico has an absolute advantage relative to England in producing cheese".
What is import and export of goods?Exporting is the process of selling goods and services that are produced or sourced domestically in other nations.
The advantages of exporting are-
reaching out on a worldwide level.higher profits.risk reductionincreased market share and competition.the benefits of scale.government assistance.Purchasing products and services abroad and bringing them back home is referred to as importation.
The importance of importing are-
launching fresh goods on the market.lowering expensesbeing a pioneer in the field.providing goods of excellent quality.know the difference between imports and exports, here
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On which financial statement and at what amount are accounts receivable reported?.
The Allowance for Doubtful Accounts is a contra-asset account. Increases to the account (to record the period's estimated bad debt expense) are recorded with ______. Multiple choice question. credits debits
They are recorded as debit as Allowance for Doubtful Accounts.
Allowance for doubtful accountsAn allowance for doubtful accounts is a contra account that nets against the total receivables presented on the balance sheet to reflect only the amounts expected to be paid. The allowance for doubtful accounts estimates the percentage of accounts receivable that are expected to be uncollectible. However, the actual payment behavior of customers may differ substantially from the estimate.
KEY TAKEAWAYS
The allowance for doubtful accounts is a contra account that records the percentage of receivables expected to be uncollectible.
The allowance is established in the same accounting period as the original sale, with an offset to bad debt expense.
The percentage of sales method and the accounts receivable aging method are the two most common ways to estimate uncollectible accounts.
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The presence of ___________ product or pricing options permits people to more precisely select the choice that makes them happiest. The presence of ___________ product or pricing choices often leads to excessive amounts of customer analysis, which in turn facilitates future customer paralysis.
The presence of fewer product or pricing options permits people to more precisely select the choice that makes them happiest while selection of many result in excessive amounts of customer analysis.
What are products?Product are those goods as well as services that a company can produce or offer to the consumer.
In this case, presence of fewer product or pricing options permits people to more precisely select the choice that makes them happiest .
Therefore the correct options to fill in the gap are Fewer; Many .
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The chief executive officers of the major U.S. steel makers would most likely be prosecuted under the antitrust laws if they Group of answer choices met to review developments in the domestic market for steel. agreed to work together to control the price of domestic steel. promised to reveal to each other their positions on trade and tariffs. conferred on resource, supply, and distribution issues.
Agreed to work together to control the price of domestic steel.
The chief executive officers of the major U.S. steel makers would most likely be prosecuted under the antitrust laws if they agreed to work together to control the price of domestic steel.
What are the objectives of antitrust law?The Sherman Act, the nation's first antitrust statute, was enacted by Congress in 1890 as a "comprehensive charter of economic liberty designed to maintain open and unhindered competition as the rule of commerce." The antitrust laws generally prohibit unauthorized mergers and business practices, leaving it to the courts to determine which ones are prohibited based on the specific facts of each case.
From the era of horses and buggies to the modern digital era, courts have applied antitrust rules to evolving marketplaces. Nevertheless, for more than a century, the antitrust laws have had the same fundamental goal: to safeguard the competitive process for the benefit of consumers, by ensuring that there are strong incentives for businesses to operate effectively, keep prices low, and keep quality high.
The three core federal antitrust laws:Any "monopolization, attempted monopolization, conspiracy, or combination to monopolize" is prohibited by the Sherman Act, as is "every contract, combination, or conspiracy in restraint of trade."The Sherman Act has harsh penalties that can be applied. The Sherman Act is a criminal law as well, and although the majority of enforcement actions are civil, anyone or any company that violates it may face legal action from the Department of Justice."Unfair techniques of competition" and "unfair or deceptive activities or practices" are prohibited by the Federal Trade Commission Act.
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Internal Environmental Analysis
Exercise #3
One of the simplest Internal Environment tools used today is a Situational Analysis – known by many as a SWOT Analysis (Strengths, Weaknesses, Opportunities, & Threats). When doing a SWOT Analysis, it is extremely important to break down the variables by controllable and uncontrollable. Remember, controllable variables are strengths and weaknesses, while uncontrollable variables are opportunities and threats.
Below is an extensive list of many identifiable variables that a Marketing Manager might come about when doing a SWOT Analysis. Identify the variables as to which category within the SWOT Matrix that they would fit by listing the category along side it.
• Rising Sales of Substitute Products
• Too Narrow a Product Line
• Adequate Financial Resources
• Unable to Finance Needed Strategy Changes
• Ahead of the Experience Curve
• Complacency Among Rival Firms
• Falling Trade Barriers in Attractive Foreign Markets
• Proven Management Skills
• Falling Behind in R & D
• Vulnerability to Recession & Business Cycle
• Poor Track Record in Implementing Strategy
• Diversify into Related Products
• Enter New Markets or Segments
• Issues Costly Regulatory Requirements
• Higher Overall Unit Costs than Competitors
• Proprietary Technology
• Vertical Integration
• Product Innovation Skills
• Well Thought of by Buyers
• Serve Additional Customer Groups
The analysis that you have been asked to examine is called SWOT Analysis. See the categorization below.
What is SWOT Analysis?This is simply a situational analysis that considers the strengths, weaknesses, opportunities, and threats that a company might face in the execution of its business strategy.
,
Strength
• Adequate Financial Resources
• Proven Management Skills
• Ahead of the Experience Curve
• Diversify into Related Products
• Enter New Markets or Segments
• Proprietary Technology
• Vertical Integration
• Product Innovation Skills
• Well Thought of by Buyers
Weaknesses
• Too Narrow a Product Line
• Unable to Finance Needed Strategy Changes
• Falling Behind in R & D
• Vulnerability to Recession & Business Cycle
• Poor Track Record in Implementing Strategy
• Higher Overall Unit Costs than Competitors
Opportunities
• Complacency Among Rival Firms
• Falling Trade Barriers in Attractive Foreign Markets
• Serve Additional Customer Groups
Threats
• Rising Sales of Substitute Products
• Issues Costly Regulatory Requirements
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Stephanie manages a team that has gone through a tremendous amount of transition over the last year. There have been multiple reorganizations, and many legacy software systems and practices have changed. Senior Leadership has just announced that they will be rolling out a new system for employees to track and record their work hours. Stephanie's team has expressed to her their concern over this most recent change. Stephanie attempts to calm the fears in her team by assuming which of the following roles?
a. Disturbance Handler. b. Negotiator. c. Entrepreneur. d. Resource Allocator.
Answer:
a Disturbance Handle
Explanation:
The same basic formulas used for materials and labor are used to analyze ______ portion of manufacturing overhead. Multiple choice question. the fixed both the variable and fixed the variable neither the variable nor fixed
The same basic formulas used for materials and labor are used to analyze the variable portion of manufacturing overhead, which means Option B.
What is manufacturing overhead?manufacturing overhead serves as the addition of of all the indirect costs during the manufacturing process of the product.
An this It is added to the cost as well as direct material and direct labor costs after the final product.
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On a day when AHJ Corp. stock is trading at $100 per share, the company executes a block trade, buying back 100,000 of their shares at $103. Assume the par value of the stock is $1 per share. AHJ repurchases the stock reserving the right to reissue the shares in the future. What would be the impact of this transaction on AHJ's balance sheet
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The planned elimination of many workers in order to enhance the organization's competitiveness is known as _____ and is often the result of a firm wanting to reduce its costs or because technology has replaced its need for labor.
Hello !
Answer:
The planned elimination of many workers in order to enhance the organization's competitiveness is known as downsizing and is often the result of a firm wanting to reduce its costs or because technology has replaced its need for labor.
When a customer purchases merchandise inventory from a business organization, she may be given a discount which is designed to induce prompt payment. Such a discount is called a(n)
a customer purchases merchandise inventory from a business organization, she may be given a cash discount.
A trade discount is a deduction from the list price of an item offered to a customer by a trader at an agreed rate. In contrast, a cash discount is a rebate given to a customer if he or she pays cash for an item purchased within a specified time period.
To calculate the cash discount, the formula uses the price and rate. The formula is: Discount = purchase price x discount rate. For example, if the product is priced at $ 200 and the discount rate is 10%, the discount will be $ 20. That means consumers can save $ 20.
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Romero employs Supply Procurement Service as an agent under a written agreement that describes the rights and duties of both parties. This is Group of answer choices equal authority. express authority. apparent authority. implied authority.
Romero employs Supply Procurement Service as an agent under a written agreement that describes the rights and duties of both parties is known as express authority.
The authority specifically granted by a contract between an agent and a principal to act on the latter's behalf. Observe the definitions of actual, implied, inherent, and apparent authority.
A sort of authority is expressed when it is explicitly stated or granted to the agent, either verbally or in writing, by the principle. For instance, expressed authority refers to a principal's (verbal or written) consent to an agent acting or carrying out transactions on their behalf.
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Ben & Jerry's, Whole Foods Market, Stonyfield Farm, TOMS, Keurig Green Mountain, and Patagonia all have engaged in visible and well-publicized activities as socially conscious companies with which major result?
To increase buyer patronage, socially aware businesses like Ben & Jerry's, Whole Foods Market, Stonyfield Farm, TOMS, Keurig Green Mountain, and Patagonia have all taken part in conspicuous and well-publicized initiatives.
Patronage buying motives are those thoughts or causes that lead a customer to choose a specific store over others while making a purchase.
Emotional reasons behind buyer patronage:
1. Aesthetics: Sometimes a store's appearance is what draws customers in. Customers are frequently drawn to a well-furnished, clean, well-decorated store with all the current conveniences.
2.Observations: Customers might go to a store based on the advice of their friends and family. Typically, these friends and family members are contented shoppers at that particular store. As a result, they spread the word to others about the good customer service provided there.
3. Plagiarism: Customers are frequently encouraged to copy others since it seems simpler than making their own decisions. This drive is strong, especially among women. However, this drive might not last long.
4. Reputation: Prestige and dominance are the main driving factors behind immensely rich customers' purchases. They may purchase stuff that they may not even need since their need for prestige is so strong. They occasionally purchase the most expensive item. They'll pay a higher amount for goods to keep their esteem. Such people continue to patronize a store or a dealer out of respect for them.
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Edison manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash twice per month. On payday, he immediately goes out and buys all the goods he will need over the next two weeks in order to prevent the money in his wallet from losing value. What he can't spend, he converts into a more stable foreign currency for a steep fee. This is an example of the
The above-given situation is an example of shoe-leather costs.
What is inflation?In the field of economics, inflation refers to an overall rise in the cost of goods and services throughout a nation. Each unit of currency may purchase fewer products and services as the general price level rises, hence inflation is associated with a decline in the purchasing power of money.What are shoe-leather costs?The cost to individuals who must make numerous trips to the bank to withdraw more money for goods and services during periods of high inflation is referred to as a "shoe-leather cost." The phrase "shoe-leather cost" refers to how much your shoes will deteriorate if you walk to the bank more frequently.Therefore, the above-given situation is an example of shoe-leather cost.
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Revenue on account amounted to $4,600. Cash collections of accounts receivable amounted to $2,750. Expenses for the period were $2,400. The company paid dividends of $600. What was the amount of net income for the period
Answer:
Net income = Revenue - Expenses
4600-2400=2200
_____ is the practice of using team selling to focus on the firm's most important customers so as to build mutually beneficial, long-term relationships.
Key account management is the practice of using team selling to focus on the firm's most important customers so as to build mutually beneficial, long-term relationships.
Getting a prospect's commitment to buy during the closing stage of the selling process. Because the salesperson must ascertain when the prospect is prepared to buy, this stage is both the most crucial and the most challenging.accurate, complete, and step-by-step information is provided.Setting goals, structuring the sales force, hiring, choosing, training, and rewarding salespeople, as well as assessing each salesperson's performance, are all duties involved in managing personal selling.What is team selling approach?Account-based selling frequently employs the sales technique of team selling to increase transaction closing rates. Team selling, in its simplest form, is a collaborative sales method where two or more team members work together to earn business rather than working those accounts alone.Learn more about team selling approach brainly.com/question/23772356
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Consider the following bet: heads I pay you a dollar, tails you pay me a dollar. What is the expected payoff (return) of this bet? (Assume a fair coin.)
Expected Payoff = Probability of Heads * Payoff to you + Probability of Tails * Payoff
Expected Payoff to you = 50% * $2 + 50% * -$1 = $1 + (-$0.5) = $0.50.
$0.50 is the expected payoff (return) of this bet.
Expected value is a measure of what you can expect in the long run for each game. The game payment is the expected value of the game minus the cost. If you play the game repeatedly and get an average of about $ 2.20, and it costs only $ 2 to play, the expected payment is $ 0.20 per game.
To calculate the expected payoff, you need to multiply each result by an estimate of its probability and then sum the products. In this example, there is a 10% chance of a 5% drop with a -0.5% result.
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If market interest rates decrease from 7% to 6%, what happens to the value of a $1,000 bond with a fixed interest rate
If market interest rates decrease from 7% to 6%, it will increase to the value of a $1,000 bond with a fixed interest rate.
A basic principle of bond investing is that market interest rates and bond prices generally move in opposite directions. When market interest rates rise, fixed-rate bond prices fall. This phenomenon is known as interest rate risk.
If the market interest rate is lower than the contract interest rate, the bond will be sold above its face value. This is because investors are willing to pay more for a bond that pays a higher contract rate than they would get for a similar bond (market rate).
Bond prices are inversely proportional to interest rates. This means that when interest rates rise, bond prices fall, and when interest rates fall, bond prices rise.
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What is a task force? Group of answer choices a formal group whose members must be able to perform all tasks of the team a formal group whose members work permanently and spend most of their time in that team an informal group that has the same members as the permanent task-oriented group a temporary team formed to solve a problem, realize an opportunity, or design a product or service
A temporary team formed to solve a problem, realize an opportunity, or design a product or service.
What is a task force?A task force is a team of individuals who have been given the temporary assignment to collaborate in order to accomplish a very specific and well-defined goal. A temporary team formed to solve a problem, realize an opportunity, or design a product or service. For instance, a drug task force operates separately from a police force to deal with concerns pertaining to the production, distribution, and use of illicit narcotics.What is collaboration?Collaboration is the process of two or more parties cooperating to carry out a task or realize an objective. Cooperation and collaboration are comparable. Leadership is a necessary component of most collaborations, albeit it can take the form of social leadership within an egalitarian, decentralized group.Therefore, the task force is a temporary team formed to solve a problem, realize an opportunity, or design a product or service.
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Some companies use ____ as internal tools for teams working on a project requiring lots of documentation.
Some companies use wikis as internal tools for teams working on a project requiring lots of documentation.
What is a wiki?A wiki is a hypertext publication collaboratively edited and managed by its own audience directly. A typical wiki contains multiple pages for the subjects or scope of the project and could be either open to the public or limited to use within an organization for maintaining its internal knowledge base.
Therefore, the correct answer is as given above.
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Kris wants to start using a new software he feels would help complete the project faster. However, his team is concerned it's too risky given the amount of training needed. What should Kris do
Kris should adjust in accordance with the cooperative decision being taken by his team concerning the usage of new software.
What is software?Software is an application that instructs and implements tasks in a quicker and easier way through the computer or laptop.
According to the situation, the usage of new software would make the completion of the project on time as suggested by Kris. But his team thought that the training for using that software would be very costly to the firm and also become too risky for the project.
Therefore, the mutual decision taken by him and his team would be the ideal solution for completing the project on time.
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Market structure is determined by the Group of answer choices None of the Answers are Correct. Annual revenue, costs, and profits for an industry. Price charged for the good or service produced. Amount of compensation given to the CEOs. Number and relative size of the firms in an industry.
Market structure is determined by the number and relative size of the firms in an industry.
Market structure describes how different industries are categorized and distinguished based on how fiercely and in what ways they compete with one another for customers' goods and services. There are four different kinds of market structures: monopolistic competition, oligopolistic markets, perfect competition, and monopolistic markets.In economics, market structure illustrates how businesses are categorized and distinguished according to the sorts of items they sell and how external circumstances and elements impact their operations. It is simpler to comprehend the peculiarities of various marketplaces when there is a clear market structure.The four types of economic market structures are oligopoly, monopoly, perfect competition, and monopolistic competition. The following characteristics explain why the categories are different: In oligopoly, there are few producers, many in perfect and monopolistic competition, and one in monopoly.Thus the correct answer is Option D.
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With Dollar Shave Club, you can sign up online for a subscription of shaving and personal care products to be delivered to your home without a face-to-face meeting with a salesperson. Dollar Shave Club uses a(n) _____Blank marketing channel.
In the case of Dollar Shave Club described above, the business uses the Direct Marketing Channel.
What is Direct Marketing Channel?The direct marketing channel is used when advertising products outside of fixed retail outlets.
When people buy our products online in this day and age, direct marketing is used.
In place of an established offline marketing position, the online outlet now serves as a channel for selling to customers directly.
Direct marketing techniques include emails, online ads, flyers, database marketing, promotional letters, newspapers, outdoor advertising, phone text messaging, magazine ads, coupons, phone calls, postcards, websites, and catalog distribution.
Following are some of the main direct marketing channels: Face-to-face sales, direct mail, catalog marketing, telemarketing, TV, and other direct response media are among the other marketing methods. Kiosk marketing is another.
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The manager responsible for applying payments to customer's accounts is the: credit manager. production manager. controller. payables manager. purchasing manager.
The answer is credit manager.
A manager is a person who is in charge of the management or administration of an organization or team of workers. And the individual who sets goals for the organization and can operate the business efficiently in the long run.
A Credit Manager, also known as a Collections Manager, safeguards a company's assets and manages the credit-granting process. Their primary responsibilities include evaluating the creditworthiness of new consumers, conducting assessments of existing customers, and maximizing corporate sales.
A good credit manager must have excellent analytical skills, a solid understanding of statistics, and the courage to make judgments that effect the bottom line of a firm.
The credit manager is responsible for adhering to the accounts receivable policy and administering credit.
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In november 2014 the miami marlins agreed to pay giancarlo stanton $325 million over 10 years
Based on the salary and the ticket price, the number of tickets per home game that Miami Marlins would have to sell each year is 7,296 tickets.
How many tickets should Miami Marlins sell?Assuming the ticket number per game is t, the amount that Miami Marlins would make in 10 years is:
= 81 x 55 x 10
= 44,550x
The number of tickets to be sold is:
44,550x = 325,000,000
x = 325,000,000 / 44,550
= 7,296 tickets
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Paula has completed a mortgage application and provided evidence of employment, income, assets owned, and existing debt to the potential lending institution. Although Paula has not even begun the process of looking at possible homes to buy, she is eagerly awaiting news from the lender as to whether she has been approved for a mortgage. In what stage of the application process is she
She is at the stage of Prequalification in the application process.
What is Prequalification?Pre-qualification describes a credit assessment made by a lender based on data supplied by a borrower. Before providing a pre-approval, the lender must first pre-qualify a borrower by evaluating their creditworthiness.
Contractor PrequalificationThe process of acquiring and evaluating information to identify a contractor's capability, capacity, resources, management procedures, and performance is known as contractor prequalification.Financial capability and surety, job history, licensing and credentials, management standards, regulatory, quality, safety, and environmental performance data are examples of typical subject matter areas.Before accepting bids, local government uses audits to determine the prequalification standing of prospective bidders on projects. Only prequalified bidders will be given the opportunity to place a bid.learn more about prequalification in:
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A(n) compromise law specifies a requirement for organizations to notify affected parties when they have experienced a specified type of loss of information.
A(n) breach compromise law specifies a requirement for organizations to notify affected parties when they have experienced a specified type of loss of information. This is further explained below.
What is compromise law?Generally, Compromising is making a deal with the other side instead of fighting it out in court or settling out of court.
In conclusion,When a certain sort of loss of information occurs, an organization is required by law to notify those who may be harmed as a result of the breach or compromise.
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When marketing objectives are attainable and challenging, they motivate those charged with achieving the objectives. Question 2 options: True False
It is true that when marketing objectives are attainable and challenging, they motivate those charged with achieving the objectives.
What is marketing?Marketing involves promoting a particular products. It involves setting an objective which when attainable will make the workers happy and willing to do more even when tedious.
Therefore, It is true that when marketing objectives are attainable and challenging, they motivate those charged with achieving the objectives.
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a human resource issue, is a possible cause of cost overruns in an organization. a. Inaccurate demand forecast b. Unrealistic estimates c. Inadequate training d. Poor monitoring of progress
The answer is the 'c' option. Which is inadequate training.
Any training that does not satisfy the needs of the business in terms of both quantity and quality is referred to as inadequate training.
This means that while determining your ideal training requirements, quality and quantity cannot be ignored.
The opportunity cost of Inadequate training includes:
There never seems to be enough time for everyone to do their work. Employee engagement is decreased when employees are sent on training that is ineffective, and the company pays for the time the employees could have spent working instead.Workers with more training produce work of greater quality. As a result, consumer acquisition and retention rates grow. The company is losing a lot of money in lost income because it isn't maximizing its employees' talents through frequent and effective training.The most successful businesses find a way to promote from the inside. This maintains a strong business culture and offers internal career options. You can develop the company's future top managers by giving them management training.Hence, inadequate training, a human resource issue, is a possible cause of cost overruns in an organization.
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Which statement identifies a reason a federal minimum wage was first established?
Small business owners sought to hire more people.
Workers needed fair compensation for their labor.
The federal government wanted to increase revenue.
Corporations required more highly skilled professionals.
The correct statement is : ( B ) Workers needed fair compensation for their labor.
Reason for the establishment of the federal minimum wageThe federal minimum wage was established to protect workers by providing fair compensation for their labor and establishing a
standard of living. The federal minimum wage was first introduced to cushion the effect of the post -depression era.
Hence we can conclude that the correct statement is Workers needed fair compensation for their labor.
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Answer: workers needed fair compensation for their labor