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Suppose there is a labor market with a demand curve for labor given by Qd= 10 -W and a supply curve for labor given by Qs= W, where W is the wage rate.
a. Using algebra calculate the equilibrium wage rate and the equilibrium level of unemployment and draw a graph.
b. Now suppose there is a minimum wage of $6 per hour put in place. Redraw the above demand and supply curves and show the effect of the minimum wage.
c. At the new level of employment, what is the minimum wage these workers would accept and still be willing to work?
d. Suppose the firms decided to reduce worker benefits by $1.99 per hour. Would the workers tolerate such restrictions? Why?
e. If such reductions took place, show on a graph below who actually benefited (and by how much) from the minimum wage.
Differences between groups and teams
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Which of the Theories- X or Y - do you most align with? How does that affect your behavior as a manager? Based upon what you know about the pros and cons of both perspectives, what one thing can you do to make you a more effective manager?
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Suppose that Ann and Bill both have ordinal utility functions U(h, z) = α log(h) + (1 - α) log(z), with 0 ≤ α
Determine the types of inventories these companies currently manage and describe their essential inventory characteristics.
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Costs are $600 for the first year and will increase by 20% per year. (Assume all sales and costs occur at year-end, i.e., costs are $600 @ t = 1.) Ignore taxes and calculate the NPV of the project at a 12% discount rate.
Creating a lively, affirmative culture has given Zappos a positive reputation that attracts superior job candidates. They are excited to work for a company that shares their values, empowers them to please customers, and encourages them to have..
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