Reference no: EM13738464
Assume that a firm has a production function Y = 1,000L
1/2, where Y is output and L is labour. Labour demand is Ld = 250,000(P/W)
2 and labour supply is L s = 31,250(W/P). Initially, there is an equilibrium in which output is 250,000, employment is 62,500, the nominal wage is 20, and the price level is 10. Demand for output is 250,000 at the given price, so all output is sold. Suddenly, demand at the given price drops to 200,000, but the firm does not lower its price. It lowers output and lays off workers.
A) Assuming that the firm cannot produce for inventory, how much will the firm want to produce?
B) Assuming output equals the amount given under part a, what employment force will the firms want to hire?
C) If the firm continues to pay the same nominal and real wage, how much more labour will workers wish to supply than the firm will want to hire?
|
Outlining a retention plan
: You have been hired as the new Chief Human Resource Officer (CHRO) at an S&P 500 company. As the CHRO, one of your primary roles is to be the workforce strategist. There has been a high voluntary turnover rate at this company and the CEO has direc..
|
|
Company for measuring efficiency of human assets
: Question 1: Find a metric proposed or used by a company for measuring efficiency of human assets (cite your resources per APA guidelines).
|
|
Subsystems play a part in implementing tqm
: After conducting this search, attempt to identify strategic barriers to the successful implementation of total quality management. As you identify these barriers, be sure to ask yourself how the various departments, outside suppliers, or subsystem..
|
|
Research the organization mission statement
: Describe the organization, what it does, the customers it serves, and its size. Research the organization's mission statement. Discuss the role HR will play (or does play) in fostering the organization's mission statement.
|
|
How much more labour will workers wish
: How much more labour will workers wish to supply than the firm will want to hire?
|
|
Design a noncash recognition program
: Recognition Program - Design a noncash recognition program that brings attention to some important skills/achievements your sales team may have accomplished
|
|
What is the equilibrium levels of real output
: What is the equilibrium levels of real output - What is the equilibrium real interest rate
|
|
Identify and address the main issue
: The issue here is how to communicate with the new sales personnel. They need more scientific training than you originally envisioned, and you must redesign the hiring process to include a training program, which should include a needs analysis.
|
|
Finding new innovative ideas to increase brand recognition
: Brand awareness in marketplace in the 14th year will maintain above 70%, while also finding new innovative ideas to increase brand recognition
|