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A sales manager examined age data, education level, a personality factor that indicated level of introvertedness/extrovertedness, and level of sales attained by the company's 120-person salesforce. The technique used was regression analysis. After analyzing the data, the sales manager said, "It is apparent to me that the higher the level of education and the greater the degree of extrovertedness a salesperson has, the higher will be an individual's level of sales. In other words, a good education and being extroverted cause a person to sell more." Would you agree or disagree with the sales manager's conclusions? Why?
What could Massey Energy have done to avoid this tragedy? The company had a long history of being cited for safety violations. Why might a company persist with flouting violations? To what extent did Massey Energy’s organizational culture contribute ..
Casa della Maison Restaurant is planning a sweatshirt advertising promotion. Limited sales data from a few sweatshirt sales of a prototype design indicate that What price would it have to charge to sell 1,500 sweatshirts. Calculate the price elastici..
Consider the production function f(L,K)=L+K. Suppose K is fixed at 2. (a) Find algebraic expressions for the total product of labor function TP(L), the average product of labor AP(L), and the marginal product of labor MP(L). (b) Graph the functions i..
NY state will soon implement a $15/hour minimum wage for fast food workers. What is your prediction of the short run effects of this policy? What is your prediction of the long run effects?
What was the goal of the Dawes Act?
Bob manages a grocery store in a country experiencing a high rate of inflation. To keep up with inflation, he spends a lot of time every day updating the prices, printing new price tags, and sending out newspaper inserts advertising the new prices. T..
Figure 1 is the cost and revenue curves for a perfectly competitive firm.
Cheap foreign labor argument: What is the cheap foreign labor argument? How do economists view this argument? What is the relationship between productivity and wage rates?
Chimnesia has two equally sized groups of people: smokers and nonsmokers. Both types of people have utility U = ln(C), where C is the amount of consumption that people have in any period. So long as they are healthy, individuals will consume their en..
Should mothers of young children be required to work in turn for government assistance? Does the age of the child make a different? What about the number of children? What are issues involved?
According to the five forces of the Porter's model, the organization of an industry can be analyzed in terms of its structure, conduct and performance. Discuss
Discuss the macroeconomic supply of labor. Under which circumstances would you expect zero elasticity with regard to the real wage? In the real world this elasticity more often than not differs quite a bit from zero. Is this compatible with the theor..
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