A toy manufacturing company currently produces 100 toys each day. The workers at the company earn $15 per hour. However, the government establishes a minimum wage of $24 per hour. The company cannot afford to keep all its workers, so it lays off some employees.

How many people lose their jobs?

Question

19-07-2025
Business

High School

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A toy manufacturing company currently produces 100 toys each day. The workers at the company earn $15 per hour. However, the government establishes a minimum wage of $24 per hour. The company cannot afford to keep all its workers, so it lays off some employees.

How many people lose their jobs?

Answer :

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suchetasVT suchetasVT · Answer 1 · 2025-01-06T06:34:43-05:00

The company cannot afford to keep all its workers, so it has to lay off 41 workers from the job to pay the minimum wage to the rest of the workers.

What is minimum wage?

Minimum wages refer to the lowest wages employers can pay their employees legally — the lowest price at which employees may not sell their work.

Given data: Producing 100 toys each day in that company, workers earn $ 15 per hour and a minimum wage of $ 24 per hour

Assuming per day, 8 working hours are required, 100 toys per day (1 day divided by 8hours) is equal to 12.5 toy workers.

[tex]\rm\,Workers\,earn\, \$ 15 per\,hour (8\,hours) = $ 120 \\\\Minimum wage of \$ 24 per hour (8 hours) = $ 192 \\\\ = \dfrac{120}{192}\times100% = 62.5% \\ = 100 - 62.5 = 37.5\% \\\\[/tex]

37.5% approximately would lose their job which is equal to 41 workers.

Hence, 41 workers will lose their job as the company cannot afford to pay all its workers the minimum wage established by the Government.

To learn more about the minimum wage, refer to the link:

https://brainly.com/question/1148198

A toy manufacturing company currently produces 100 toys each day. The workers at the company earn $15 per hour. However, the government establishes a minimum wage of $24 per hour. The company cannot afford to keep all its workers, so it lays off some employees.How many people lose their jobs?

Answer :

What is minimum wage?

Other Questions

A toy manufacturing company currently produces 100 toys each day. The workers at the company earn $15 per hour. However, the government establishes a minimum wage of $24 per hour. The company cannot afford to keep all its workers, so it lays off some employees.

How many people lose their jobs?