Reference no: EM133077909

What is the most effective way to explain the Intel Corporation mission and vision statement and  how individuals consider these to become elements of a competitive advantage strategy for companies? Will they gain a competitive advantage and examine the mission and vision statement related to strategic planning for the organization and how it results in a competitive advantage?

[Payroll tax is like a sales tax but applies to workers' wages. Many economists have called the state payroll tax a "tax on employment".]

1. [Suppose that the equilibrium wage is given by $18 per hour. The government introduces a payroll tax on employment of $4 per hour that must be paid to the government by employers. Show in a diagram, how this will lead to a reduction in employment (quantity of labor employed in hours). Explain who will bear the cost of the payroll tax? (Hint: show wages on Y axis and quantity of labor in hours on X axis in your labor demand and supply model).
2. [Now, suppose that before the government introduces the payroll tax, there is a minimum wage set at $22 per hour. Explain why this wage floor is binding.  Also, explain the effect of this price floor on employment and unemployment. (i.e., quantity of labor employed in hours. No diagrams needed.

[This minimum wage law stays in place when the payroll tax is introduced so that employers must pay workers at least $22 per hour and then pay an extra $4 per hour to the government in tax. 

1. [What is the effect of this payroll tax (in addition to minimum wages) on quantity of labor demanded?