an employer is competitive in the labour market: It has to pay at least the going wage. The wage level depends on the structure of the product market. It can affect the going market wage by either hiring many workers or laying many workers. It can pay less than the market equilibrium wage.
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- When is employee compensation referred to as variable pay? 0 a. when employee pay is comprised of varying component O b. when employer costs vary with the incentives offered O C. when employee pay varies with market pay when employee pay is linked to performance O d.What does the expression “marginal product of labour” mean ? Why do workers (skilled and unskilled) migrate from labour abundant countries to countries with a scarcity of labour? How has that migration of labour been of advantage to other countries?U2 What is the earned income tax credit (EITC)? The EITC probably increases labor force participation but probably also reduces hours worked by those already working. Explain why in both instances using indifference curve analysis.
- Does your current/future company price discriminate? Explain how the practice works (direct or indirect) and estimate the profit consequences of price discrimination relative to charging a single, uniform price. If your current/future company doesn't price discriminate, are there opportunities to do so? How would you design the price discrimination?..........caused by unemployment is unemployment caused by ......... and ...... unemployment caused bu .......... (QUEATİON MAY HAVE MORE THAN ONE CORRECT ANSWER.) a.structural / efficiency / frictional / inefficiency b.frictional / unemployment insurance / structural / minimum wage legislation c.frictional / the time it takes workers to search for a job / structural / wage rigidity d.structural/ wage rigidity / frictional the time it takes workers to search for a job e. frictional / efficiency / structural /inefficiencyMany outsourced jobs have resulted in offshoring jobs, rather than using domestic outsourcing. If a U.S. company wants to offshore a service like customer service, for example, what are some of their considerations? In your answer, address offshoring disadvantages as compared with domestic outsourcing.
- Why do firms not have sunk costs over time? How should managers approach sunk costs when deciding whether to enter a market or remain in it?21 - Which of the statements given about the wage concepts defined in the labor law is incorrect? a) A time-based fee is usually charged in hotels, restaurants, entertainment venues, and similar venues that serve drinks and sell a variety of food to be eaten and drunk right there. B) Commission fee is the money paid to an employee working under an employment contract in accordance with the value of his work, usually according to a certain percentage. NS) The bonus can be expressed as the additional wage paid to the worker in order to reward the work he has done individually or in the group by making great effort. D) In addition to the main wage, the bonus may be specified as a special wage given to the worker on some occasions such as New Year's Eve and the end of the working year. TO) Giving a share of the profit is the distribution of wages at a certain rate of the profit, in addition to the…-Explain the meaning of (a) differential revenue, (b) differential cost, and (c) differential income. -A company accepts incremental business at a special price that exceeds the variable cost. What other issues must the company consider in deciding whether to accept the business? -Under what conditions might a company use activity-based costing to allocate factory overhead to products?
- 2. Which of the following statements is false? (You may select more than one answer.)a. The planning horizon for discretionary fixed costs is longer than the planninghorizon for committed fixed costs.b. Discretionary fixed costs can be cut in the short term if necessary, while committed fixed costs cannot be cut for short periods of time.c. As companies increasingly rely on knowledge workers, the labor cost associated withemploying these workers is often committed fixed as opposed to discretionary.d. A mixed cost contains both committed fixed and discretionary elements.1.Choose all of the following statements that are true. a. Opportunity costs and sunk costs are not reflected on a firm's financial statements. b. Direct costs are manufacturing costs; indirect costs are non-manufacturing costs. c. Variable costs are always relevant to a decision. d. Under absorption costing, when a firm increases production, but has the same amount of sales, cost of goods sold decreases. e. Job order costing systems are used only in service industries; process costing systems are used only in manufacturing industries. 2.Which of the following are true about cost behavior within a particular relevant range? (Choose all that apply.) a. Variable costs per unit increase as a company produces more units of production. b. Total fixed cost is constant over all units of production. c. Fixed costs per unit decreases as a company produces less units of production. d. The slope of total variable costs is positive over increasing levels of production.The marginal product of labour is defined as the ____. a) Average output per worker b) Cost of one worker c ) Change in output from using one more unit of labour d) Change in revenue from using one more unit of labour
