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Suppose that a car dealership wishes to see if efficiency wages will help improve its salespeople's productivity. Currently, each salesperson sells an average of one car per day while being paid $20 per hour for an eight-hour day.
a. What is the current labor cost per car sold?
b. Suppose that when the dealer raises the price of labor to $30 per hour, the average number of cars sold by a salesperson increases to two per day.
What is now the labor cost per car sold?
By how much is it higher or lower than it was before?
Explain the differecnce between fixed-procuction technology and variable-production technology. Should the government set a goal of reducing the marginal social cost of pollution to zero in industries with fixed-production technology
For each hour of work, the employer deducts $1 and sends the money to the city government. The initial wage (Before the tax) is $10, and total employment is 20,000 hours per day. Use a graph to show the effect of the tax on the equilibrium wage an..
At the end of 1987, you bought a piece of land for $35,000. In addition to the $35,000, you paid $1,700 in closing costs (costs associated with the purchase and title registration). For the years 1988 through 2002, you paid, on average, $950 in pr..
Assume a country that basically consumes 100 pairs of shoes per hour, all of which are imported. The price of shoes is $40 per pair before a ban on importing them is imposed.
In order to accurately assess the capital structure of a company, it is necessary to convert its balance sheet figures to a market value basis. KJM Company's balance sheet as of today,
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The economy will contract or shrink if leakages exceed injections. Are you agree with this statement.
What would anything change if unemployment benefits were reduced such that the y-intercept of the MC curve increased four-fold. Show graphically.
What are the public policies aimed at combating organized crime to eliminate business opportunities for the organized firms. What are some examples of the implementation of this policy? Has it been successful
Assume that there are 2-states that do not trade, Iowa and Nebraska. Each state manufacture the similar two goods: corn and wheat.
how would outcomes be affected if people, on average, preferred to work for themselves rather than for someone else, i.e., if on average people preferred self-managed to alienated labor?
Illustrate elastic or inelastic. Make confirm you continue to use the correct terms when considering changes in price
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