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To the extent that wage levels are NOT consistent with marginal productivity theroy, it is most like due to:
A. The fact that the moel of profit - maximization does not apply to a firms hiring decisons
B. The tendency of workers to seek the highest paying jobs available regardless of their abilities.
C. The presence of discrimination in labor markets andt he deire of some firms to payefficiency wages.
D. The fact that firms do not know what the marginal product of labor is.
Why do you think some celebrities are effective at pitching products while others are not? Experts cite three factors underlying source credibility: expertise, trustworthiness and likability. However, new research now shows that only one of the three..
Elizabeth just cannot live the pirate life and keep that drop-dead gorgeous complexion witheut regular spa visits. She can go to the Montego Bay Retreat for a mud facial that lasts seven weeks, costing $91, or visit the crater of Mount Pelee for a la..
One type of benefits involves giving workers discounts on the firm’s products. We noted that this type of system could reduce the firm’s costs by reducing some marketing expenses. Explain why offering such discounts (as opposed to increasing workers’..
If public opinion surveys show that the majority of Americans regard inflation as a more serious threat than unemployment: Does this imply that the majority of Americans would rather be unemployed in a period of stable prices than employed in a time ..
There is an intimate connection between politics and economics, and different systems of the two can only exist side-by-side in certain pairings. For instance, says Friedman, a society which is (economically) socialist cannot also be (politically) de..
A forest owner in a developing country claims that he earns more m1y with carbon sequestration than with timber production.
Some people have argued that the government should provide medical care to everyone. Under this system: Duke is a particularly highly skilled negotiator. The law firm that hires Duke is able to collect twice as much revenue per hour of Duke's time th..
Select one significant environmental issue. What are the costs and benefits of our current environmental issues from an economic standpoint? What type of market failure could those problems is defined as? What can you as an individual do to help in a..
How much “control” does Congress have over spending based on the fiscal budget of 2017? Evaluate the amount of discretionary spending vs. non-discretionary spending.
Consider a contributions game with 2 players. Each player can either ‘Contribute’ or ‘Not.’ If either (or both) Contribute, a good is provided to both. The good is worth 2 jollies to each player. What is the mixed strategy Nash equilibrium in this ga..
Illustrate what is the theoretical differences between ordinary demand functions and compensated demand functions.
A newspaper recently lowered its price from $30 to $25. As it did, the number of newspaper sold increased from 20,000 to 25,000. What was the newspaper’s price elasticity of demand? Was it price elastic or inelastic? Explain and show your work. Given..
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