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The VMP of each worker
Workers start at firm A when they are 18. The VMP of each worker remains $18 throughout their work life.
Given the firm's concern that workers shirk, they start workers at $10 and increase the pay by $0.40 each year they are on the job.
Assume that the firm does not have a pension plan and r=0 for all workers.
(i) For what ages will workers be paid above their VMP?
(ii) Show whether this firm opposes legislation prohibiting mandatory retirement for workers under 65.
(iii) At what age would they begin to oppose legislation?
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Employment also labor law influences as the organization grows both domestically and internationally
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Social Dynamo Corporation earned profits last year of $49 million on sales of $500 million. During the same period, its major competitor - EIO Corp.- enjoyed sales of $490 million and earned profits of $52 million.
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