After two quarters of increasing levels of production the

Assignment Help Microeconomics
Reference no: EM13375788

After two quarters of increasing levels of production, the CEO of Canadian Fabrication & Design was upset to learn that, during this time of expansion, productivity of the newly hired sheet metal workers declined with each new worker hired. Believing that the new workers were either lazy or inefficiently supervised (or possibly both), the CEO instructed the shop foreman to "crack down" on the new workers to bring their productivity levels up.

a. Explain carefully in terms of production theory why it might be that no amount of "cracking down" can increase worker productivity at CF&D.

b. Provide an alternative to cracking down as a means of increasing the productivity of the sheet metal workers. Fully explain your alternative in terms of production theory.

Reference no: EM13375788

Questions Cloud

1 comparing the different models of pure perfect : 1. comparing the different models of pure perfect competition and oligopoly what will be the effects or difference
Estimation and testing of capital asset pricing : estimation and testing of capital asset pricing modelnbspthe capital asset pricing model capm is an important model in
1-national parks are typically considered to be common : 1-national parks are typically considered to be common national resources. since each national park has a gated
Answer each of the following question in one or two : answer each of the following question in one or two paragraphs.1-describe the difference between average revenue and
After two quarters of increasing levels of production the : after two quarters of increasing levels of production the ceo of canadian fabrication amp design was upset to learn
Q1 specify an identity for changes in netforeign wealth as : q1. specify an identity for changes in netforeign wealth as a function of gross national product gnp using notationand
1 if the total issues in an economy are rs 450000 the : 1. if the total issues in an economy are rs 450000 the financial interrelations ratio is 1.17 and the new issue ratio
Suppose that national income is initially at its : suppose that national income is initially at its equilibrium level when desired investment falls.we would exceptaa fall
You are a monopolist producing widgets for simplicity : you are a monopolist producing widgets for simplicity assume that you produce themat zero cost and maximizing your own

Reviews

Write a Review

Microeconomics Questions & Answers

  Why ellen chooses a sole proprietorship

Ellen wants to start a business. She is leaning toward setting up her company as a sole proprietorship, but she is also looking at other possibilities. Ellen has two major goals. First, given her limited personal wealth and eagerness to get starte..

  Are your proposals worth the trade-off

Are your proposals worth the trade-off? Justify your proposals and respond to the proposals from your classmates.

  Strategies of general electric and future teams

General Electric has frequently placed managers together to work on teams. Often the work project is only for a short period of time.

  Explain what might offset the inefficiency from the point

Explain why the monopolistically competitive industry is said to be inefficient with "too many firms, each producing too little output." Explain what might offset this inefficiency from the point of view of consumers.

  Computing expected profit of new system

The Apollo Products Company currently collects all of its customer payments in Detroit. By going to a new lock box system with boxes in Los Angeles, Boston, and Atlanta, Apollo Products can reduce the total time it takes to convert customer paymen..

  Determining optimal production level

What is the Marginal Cost? What is the Average Cost? What is the optimal production level where production costs are the lowest per unit?

  Define the concept of opportunity cost

What is the net present value of this proposed project? If efficiency was the only objective for making the decision and we have fully accounted for all costs and benefits would you recommend the project go ahead or not?

  What happens to the reserves of the bank

What happens to the reserves of the bank? What happens to the money supply in the economy as a whole if the reserve requirement is 10%, all payments are made by check, and there is no net drain into currency? How would your answer in part b be aff..

  Explain how an increase in expected inflation

If inflation is expected to be 4% next year, rather than 2%, what will happen to nominal wages next year? Use your answers from parts 1 and 2 to explain how an increase in expected inflation will tend to affect the following year's actual rate of ..

  You have been retained by xyz university as a consultant to

you have been retained by xyz university as a consultant to make recommendations andor proposals for the marketing of

  Imagine that you have decided to open a small ice cream

imagine that you have decided to open a small ice cream stand on campus called ice-campusades. you are very excited

  Why the market for computer chips isnt perfectly competitive

it's dominated by two firms, AMD and Intel. Yet price competition between those two firms is fierce, driving their profits down. Why is there greater price competition between rival computer chips than between rival computer operating systems

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