Compute the wage at which level the botanists

Assignment Help Operation Management

Reference no: EM132307619

Suppose working hard costs botanists a monetary equivalent of $200. The labor market for botanists is so small that, if they were ever out of job, they will be unemployed and get paid $1000 per month through government unemployment compensation. Because most botanists do what they love, they are largely unmonitored by the employer, and thus faces a very low probability of 0.1 to be detected for shirking on job. Compute the wage at which level the botanists should be indifferent between working hard and shirking (i.e., if they are paid even just $0.0000001 more, they will choose to work hard, and if paid $0.0000001 less, will choose to shirk).

Reference no: EM132307619

Questions Cloud

Importance of marketing function in creating perceived value : Discusses the importance of the marketing function in creating perceived value. Select a specific product or brand to use as an example.

How does groups reasoning-ranking differ from your original : How does groups reasoning and ranking differ from your original thinking Step 6. What did you learn about organization structure and design from this exercise?

Write plans for an individual health insurance plan : Write a 1000 word paper detailing the key considerations of coverage and plans for an individual health insurance plan.

Determine how you would then address whatever opportunities : Describe your chosen city, including its population, racial/ethnic make-u, infrastructure,median income, and the overall landscape.

Compute the wage at which level the botanists : Compute the wage at which level the botanists should be indifferent between working hard and shirking

What represents critical region for consumers : What represents a critical region for producers? What represents a critical region for consumers?

Write a blog post about a company of your choice : Write a blog post about a company of your choice and its supply chain. Provide a catchy title, rich content, and avoid the fluff.

What do you see as the most pressing environmental problems : What do you see as the most pressing environmental problems, and what role can and should business play in addressing them?

Calculate anticipated revenue for the business : An important step in developing a projected (pro forma) income statement is to create a sales forecast and calculate anticipated revenue for the business.

User Account

All Pages