Simpsons buffalo wings is in a perfectly competitive market when the government imposes a minimum wage, above the equilibrium wage. as a result, a. the quantity of labor supplied increases. b. the output reduces. c. the quantity of labor demanded increases. d. he price of unit output increases. ethe price of unit output decreases.

Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan