Question about piece rate system

Assignment Help Managerial Economics
Reference no: EM1372399

The Green Show Corporation is planning going to a piece rate system, where manufacturing workers are paid based on their level of output. Discuss what factors the firm should consider in deciding whether this idea should be implemented. How should the initial piece rate be set? Under what circumstances should the company alter the piece rate once it is adopted?

Reference no: EM1372399

Questions Cloud

Shut down decision : An unprofitable company has employed me to determine whether they should shut down there unprofitable operation or not.
Which arguments is president using to justify trade : Which of following arguments is president using to justify trade restriction on ball bearings.
Find the period and oscillation for small deflection : A house at the bottom of a hill is fed by a full tank of water = 6.50 deep and connected to the house by a pipe that is = 130 long at an angle of = 61.0 from the horizontal. Find out the water gauge pressure at the house.
How to compute the acceleration : A 94 g stone is whirled in a horizontal circle on the end of a 73 cm long string. The stone takes 1.10 s to make each complete revolution. Conclude the angle that the string makes with the horizontal.
Question about piece rate system : The Green Show Corporation is planning going to a piece rate system, where manufacturing workers are paid based on their level of output.
Calculate point elasticity of demand : What is opportunity cost and describe with the help of an example, why assumption of constant opportunity cost is very unrealistic and also calculate point elasticity of demand
Show that joe output is a decreasing function : Joe is an empire builder". That is, his goal is to produce and sell as much as possible. Show that Joe's output is a decreasing function of all input prices.
Support the weights in the absence of friction : A 0.250 kg block is placed on a vertical spring (k = 5.0 x 10^3 N/m) and pushed downward, compressing the spring 0.10 m. As the block is free, it leaves the spring and continues to travel upward. What height above the point of release would the bl..
Explain thoughts on database design process : Explain thoughts on database design process this far. You have learned about first three phases of process: defining mission statement and mission objectives, analyzing current database, and creating data structures.

Reviews

Write a Review

 

Managerial Economics Questions & Answers

  Question about productivity problem

Charles Lackey operates a bakery in Idaho Falls, Idaho. Because of its excellent product and excellent location, demand has increased by 25 percent in last year.

  Marginal physical product of labor

Use the following information for a company's output at various levels of employment to compute: its marginal physical product of labor schedule; its schedule,

  Compute total profits at the optimum level of output

The Zinger Corporation manufactures and sells a line of sewing machines. Demand per period for a particular model is given by the following relationship:

  Calculate marginal and average products

The following table shows information for a simple production function. From the data in the table, calculate marginal and average products.

  Diminishing marginal productivity states

The law of diminishing marginal productivity states that as more and more of a variable input is added to an existing fixed input,

  Calculate the output level to maximize profits

Sparkling Pipes, Corporation offers professional furnace duct cleaning to home owners in Danville, Illinois. The firm estimates that each additional room of ducts it cleans costs the company $10.

  Calculate the firm total variable cost

A company cost curves are listed in the following table. Assume market price is $30. calculate the firm's Total Variable Cost, Average Variable Cost.

  Calculating total profit and revenue

Assume a company is operating at the minimum point of its short-run average total cost curve, so that marginal cost equals average total cost.

  Question about elasticity

Suppose Amanda Herman finds that her total spending on compact dics remaing same after price of compact fall, other things equal.

  Market structure and pricing decision applied problems

Market Structure and Pricing Decision Applied Problems, BUS 640 Managerial Economic,

  Rules for short and long run

There is some information you are given, and on the basis of the information, you are asked to make a decision. Now here are some definitions

  Find the marginal product of labor

The following table given below presents estimates of the maximum levels of output possible with various combination of two inputs.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd