### Quantity and quality of persons efforts may be in conflict

##### Reference no: EM131236956

When the output is a service rather than a good, it sometimes is difficult to quantify this service. Furthermore, the quality of a service is often as important (if not more important) than the quantity. And in many cases, labor time spent with a customer is directly related to this quality of service. If this is the case, then the quantity and quality of a person’s efforts may be in conflict with each other.

#### Questions Cloud

 Unemployment insurance and mandated job security : What are the pros and cons of the government positioning controls on the labor market like; minimum wage, unemployment insurance and mandated job security? Explain each. Which of the aforementioned situations should be assigned in the United States i.. What perfectly competitive market : Consider the following for an example of a some what perfectly competitive market: Can you think of any products that are not differentiated? In other words, are there any products that you buy where brand does not matter? Can you think of any indust.. What are the pros and cons of the government : What are the pros and cons of the government not being involved in the labor market (laissez-fair)? What would be the pros and cons of an economy of personal income tax being fully substituted with a sales tax? Please explain why. Radio station to see jazz band perform at an outdoor concert : Jim wins a ticket from a Radio station to see a jazz band perform at an outdoor concert. Mike has paid \$18 for a ticket to the same concert. All the other costs of attending the concert (including parking, fuel, etc.) are the same for Jim and Mike.  .. Quantity and quality of persons efforts may be in conflict : When the output is a service rather than a good, it sometimes is difficult to quantify this service. Furthermore, the quality of a service is often as important (if not more important) than the quantity. And in many cases, labor time spent with a cus.. What fraction of total variation in quantity demand of good : An MBA student has proposed the following demand equation for good Y. QdY = a + b PY + c M where: QdY = quantity demanded of good Y in millions of tons per year PY = Price of good Y in dollars per ton M = Average consumer income in thousands of dolla.. Index of globalization : The KOF Index of Globalization, provided by the KOF Swiss Economic Institute, measures globalization on economic, social, and political dimensions. Provide a brief description of this index and its ranking. Specifically, what factors are considered i.. The cross-price elasticity of demand between product : You are the manager of a firm that receives revenues of \$60,000 per year from product X and \$100,000 per year from product Y. The own price elasticity of demand for product X is -2.75, and the cross-price elasticity of demand between product Y and X .. Considering various advertising media to promote its new toy : A company is considering various advertising media to promote its new toy. Write the linear programming formulation to determine what media should be used to maximize monthly audience exposure.

### Write a Review

#### Explain how could we best categorize the remaining

Imagine that last year, Jennifer earned \$80,000 in salary, and consumed \$50,000 in goods and \$23,000 in services. How could we best categorize the remaining \$7,000.

#### Monetary policies as they relate to business environment

You will explain monetary policies as they relate to the business environment. What is the effect of the extended period of low interest rates in the US economy on: (a) banks taking deposits, (b) individuals saving for retirement, (c) cities and town..

#### Indifference curves cross

Suppose that there are two commodities and a consumer prefers more to less of each good. If the consumer has transitive preferences, can her indifference curves cross?

#### Describes the essential functions of banks

Brenda Johnson has used a preprinted form that she got from the internet to create her will.

#### Two firms supply coffee at market

Two firms supply coffee at a market. Firm 1 has lower marginal costs than firm 2, reflected by constant marginal costs c1

#### Aggregate demand and supply

The vertical long run AS curve compatible with classical economics implies that AD only determines the price level

#### Demand for gasoline is inelastic and supply of gasoline

The demand for gasoline is inelastic and the supply of gasoline is elastic.

#### Determined that the firm cost function

The market demand curve for this product is estimated to be: Q = 6009 – 25P where Q is the number of plate covers per year and P is in dollars. Cost estimation processes have determined that the firm’s cost function is represented by TC = 120 + ..

#### Illustrate what should be the production level

Illustrate what should be the production level if fixed costs rose to \$50,000 per month. Explain.

#### Illustrate what is the short run total cost of producing

Currently, boats rent for \$500 per day and workers cost \$100 per day. Suppose your company decided purchase 12 shrimp boats (Jenny 1 - Jenny 12). These boats are a fixed resource for the firm. Illustrate what is the short run total cost of produci..

#### Considering franchising as unique brand of crepes

Crepe Creations is considering franchising as unique brand of crepes to stall-holders on Hermoza Beach, which is five miles long. Suppose now that CC requires that each stall-holder deliver the crepes in its own designated territory. How many franchi..

#### The perfectly-competitive firm will produce

If there are no fixed costs of production, in the long run, the perfectly-competitive firm will produce