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In 1992, the state of California charged Sears Auto Centers with overcharging customers for unneeded or unperformed repairs. Sears agreed to a settlement that could cost as much as $20 million. Sears had compensated its salespeople with commissions based on total sales. Following the settlement, Sears dropped the commissions and went to a straight salary. Sears recently indicated that it is planning to reinstate commissions for salespeople in their Auto Centers. It even plans on paying commissions for selling customers brake jobs and wheel alignments. These two products were the core of the 1992 scandal. Sears says that it has taken steps to prevent a recurrence of past problems. In particular, the deci- sion right to recommend repairs is granted to mechanics who are paid a straight salary.
Sales consultants are paid commissions for selling repair services but are not authorized to recommend repairs. Under the old system that caused problems, these individuals diag- nosed repair problems and sold the corresponding service to customers. Why do you think Sears wants to reinstall commissions for its salespeople? Do you think that the new safeguard that separates diagnosing problems from selling services will prevent a recurrence of past problems? Explain.
What external parties monitor managers? Assess how these parties performed their roles in the 1990s. Discuss the current pressures on these parties.
Why do firms form internal labor markets? Evaluate the following statement: "Firms are free to set salaries in any manner they want in an internal labor market."
An airline ticket costs the same from casper wyoming to denver colorado and from denver to orlando florida. does this, Hire Microeconomics Expert, Ask Economics Expert, ... Does this make economic sense? Explain the rationale behind equal prices for ..
What does it mean to "overpay" a CEO? Do you think that some CEOs are overpaid? What about the "typical" CEO? Are stock options to blame for the earnings management scandals?
1.Do any groups of people gain from inflation?
Production function and Factors of production and Production Possibilities frontier
Rochester Metro Area was hit with a major ice storm in 2003. Suppose that before ice storm of 2003, the weekly demand and supply for ice in the Rochester Metro Area were given by following equations:
1.A country's central bank (e.g. the Bank of England or the US Federal Reserve Bank) has a key role in ensuring the stability of the banking system.
However, another flavor, Cherry Garcia, contains sulfur dioxide preservatives, and other flavors use margarine, not butter. What are the problems a firm faces if it is "politically correct" in some products but not others?
The board of trustees of the University of Medford has been asked to reconsider this policy. Provide an economic argument to explain why the board of trustees might want to continue this policy.
The corresponding average total cost is $3.50 and total fixed costs equal $1250. Based on this information, should this firm continue to operate in the short run? Why or why not - what will happen in each of the following cases to average and marg..
Ethical relativism does not do a good job of resolving conflicts, but it can work well to resolve conflicts within a culture by applying the majority rule. For this paper you are going to use ethical relativism to determine the best way to deal
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