Economics Markets

MyDropBox Detailed Report MyDropBox Originality Report Need help with the updated news business relationship look ? Click here Close Information savant Name john gilbert gopez Class ENG10 Save report to disk :Student Email robertdadios gmail .com Submission 101095 Print reading :Title .doc Submitted 2007-10-18 08 :24 :44 EST Matching18ID 757131 Suspected Sources http / vane .beaconhill .org /BHIStudies /H3782MinWage62005 .pdf Re-process the without these sources TextUntitled (NAME ) The most probable result if the minimum engage for adolescent workers in Australia pass on increase is that the employment rate forget decrease . The effects on employment on the workers on the increase in the minimum mesh of teenage workers go away lose their job . This is because employers must retain their mesh . increase the minimum wage of the workers give result into decrease reach of the phoner , thus employers will lessen their employers also change magnitude their labor costs to retain their profit (Kennan 2007 . Take for voice a company that aims to maximize its profit . Currently , the company s labor force is n and the minimum wages for its employer is w . Consider a case when the company increases the minimum wage to W with no changes to opposite factor like profit . If this happens , the profit will decrease because of n (W-w . The only mood to regain the losses of the company that is brought by the increase in the minimum wage is to lessen its labor force n to compensate the losses . Drastic change will die on the employment of teenage workers in Australia because employers will shell out first the adult or the professionals . Companies that need personnel with expertise on the said company will be hired first because these professional are more equipped in producing profit for the company .

The figure below illustrates how employment is beingness affected by the increase in the rate of wage of the labors . As the wage increase , so also the cattle ranch thus increasing the rate of unemployment (David Tuerck and Paul Bachman 2005 . There are other possible outcomes when minimum wage rate will increase among teenage workers in Australia . Though many employee will be attracted on the high wage rate in Australia , in that respect is a big possibility that companies will go to other places where there is low wage rate . more or less companies now are finding their personnel on places where there is a low wage rate . This is to lessen other expenses incurred by the companies (Haussamen 2007 . Figure 1 . Supply and Demand abstract on the Minimum Wage References : David Tuerck , PHD , and MSIE Paul Bachman . 2005 . The Economics of a Higher Minimum Wage in Massachusetts . varlet 2 Copyright 2000 150 2004 MyDropBox LLC . All rights reserved practice Agreement Privacy Policy URLx Matching : 0 X Uploaded Manuscript0 Internet Source0...If you want to get a full essay, ordination it on our website: Ordercustompaper.com

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