Economics:
10th Edition
ISBN: 9781285859460
Author: BOYES, William
Publisher: Cengage Learning
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Question
Chapter 29, Problem 12E
To determine
To explain:
The meaning of the term "Exploitation" used by Mrs. S.
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Q54
Justin Trudeau, who owns a barbershop in Ottawa, charges and charges $20 per haircut. By hiring one barber named Sophie at $15 per hour, the shop can provide 20 haircuts per eight-hour day. By hiring a second barber, Shelly, at the same wage rate, the shop can now provide a total of 36 haircuts per day. Justin Trudeau should
Multiple Choice
hire the second barber, Shelly, because she will add $320 to profits.
not hire the second barber, Shelly, because she will diminish profits.
not hire the second barber, Shelly because she is less productive than the first barber, Sophie.
hire the second barber, Shelly, because she will add $200 to profits.
close shop.
In 1992, the NLRB issued a decision in the Electromation case that:
Ruled that quality circles were illegal
Established that a company appointed employee committee was not necessarily illegal just because it talked to management about wages, hours, and working conditions
Ruled that any employee committee formed by management was illegal because it served to keep unions out
Ruled that employee committees formed by management for the purpose of understanding employee concerns over wages, hours, and working conditions violated Section 8(a)(2) of the NLRA
Critics argue that unions are merely a type of cartel. When unions raise wages above the level that world prevail in competitive markets, they reduce the quantity of labour demanded, cause some workers to be unemployed, and reduce the wages in the rest of the economy. The resulting allocation of labour is both inefficient and inequitable. Outline the main arguments that favour the existence of union in an economy.
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- Q34 Justin Trudeau, who owns a barbershop in Ottawa, charges $8 per haircut. By hiring one barber named Sophie at $11 per hour, the shop can provide 22 haircuts per eight-hour day. By hiring a second barber, Gregoire, at the same wage rate, the shop can now provide a total of 42 haircuts per day. The MP of Gregoire, the second barber is Multiple Choice 42 haircuts. 20 haircuts. $242. is negative. $176.arrow_forwardOberlin, Ohio is a small town in Ohio home to Oberlin College. Oberlin College employs more than half of people in the town. What market structure best applies to the market for workers in Oberlin? Why?arrow_forwardDoes the old boy network operate in favor of men and can women get the job only if they accept towork for lower wages?arrow_forward
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