Edie chooses to work 90 hours per week when the wage rate is $16 per hour. If she is offered time-and-a-half ($24 per hour) for “overtime work” (i.e., hours in excess of 90 per week), will she choose to work longer hours? Support your results with a diagram.

Lucille receives an annual salary of $37,500 based on a 37.5-hour workweek. What are her gross earnings for a two-week pay period in which she works 9 hours of overtime at 1 1/2  times her regular rate of pay? (Assume there are exactly 52 weeks in a year. Round your answer to the nearest cent.)       Gross earnings  =

Consider a firm with Total Output function (Production Function) given by Q = 6L2 – 0.4L3, where L is variable labor input. The firm is faced with the decision to hire the optimal number of workers in order to maximize its output level.   (a) Obtain the Marginal Product function.   (b) Find the Average Product function.   (c) Determine the level of employment that would maximize the firm’s output level.   (d) Verify that the second-order condition is met for the firm's output maximum.

If the marginal product of labor is 50 per day, and if the market is $4.50, calculate the marginal revenue product.

EFI—a material handling company—pays each of its salespersons a base salary plus a percentage of revenues generated. To reduce overhead, EFI has switched from giving each salesperson a company car to reimbursing them $0.35 for each business-related mile driven. Accounting records show that, on average, each salesperson drives 100 business-related miles per day, 240 days per year. Can you think of an alternative way to restructure the compensation of EFI’s sales force that could potentially enhance profits? Explain

Kevin, a worker in Volcania, can produce 182 baskets of Peaches in a(n) 11-hour shift. Calculate Kevin's labor productivity. basket/hour

How will automation affect the unskilled labor,

You are HR director for a growing architecture firm in Fort Lauderdale, Florida, which currently has need of drafting 20 blueprints every hour. Each of your company’s architects can create on average four blueprints per hour. You are considering hiring four drafters to shoulder the load; each drafter is slower than the architects and can create on average only two blueprints per hour. You scan the current wages in the Ft. Lauderdale area (https://www.bls.gov/oes/current/oessrcma.htm) and notice that the architects in your company earn the local occupational median wage of $30.14 per hour, but that the prospective four drafters will likely each want to get paid their local occupational median wage of $23.52 per hour. a.   Would your company save money in the creation of the 20 blueprints by hiring the four new drafters and firing some architects? b.   The Bureau of Labor Statistics projects that employment of drafters over the next decade will drop by 1.2%, compared to an increase of…

How will automation affect the job market over the next decade?

draw a budget line for a person who works 2000 hours a year today at 16$ per hour and expects to work 2000 hours in the future at the same wage. then show the effect on the graph if he increases his hourly wage to 50$an hour