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

A bottling company uses two inputs to produce bottles of the soft drink Sludge: bottling machines (K) and workers (L). The isoquants have the usual smooth shape. The machines cost $1,000 per day to run (r), and the workers earn $200 per day (w). At the current level of production, the marginal product of machines (MP) is an additional 473 bottles per day, and the marginal product of labor (MP, ) is 38 more bottles per day. Is this firm producing at minimum cost? If it is minimizing cost, explain why. If it is not minimizing cost, explain how the firm should change the ratio of inputs it uses to lower its cost. The bottling company O A. is not minimizing the cost of production because MP/r> MP, w and should use less labor and more machines. O B. is not minimizing the cost of production because MP,Ir MP, w and should use more labor and fewer machines. O E. is not minimizing the cost of production because MP/MP, = r/w and should use more labor and fewer machines.

The Aguiar et al. (2017) study concluded that a revolution in the video game market-better games at a lower price-dramatically increased the amount of time young men spend playing video games and shifted their labour supply curve. In 2015, young men played video games for 3.2 hours per week on average. From 2000 through 2015, average annual hours of work for men aged 21-30, excluding full time students, dropped by 10% . Suppose the labour demand function is L = 200-w, and the supply curve is L = 50 + w-2V, where L is the hours worked, w is the wage, and V is a measure of the quality of video games. By how much do the equilibrium hours and wage vary as V increases?

Compare different pay scales. Decide if it is better to receive $500 a week or to be paid hourly at a rate of $12.50 per hour or to get 20% of whatever you sell? What factors could affect your decision? Explain. *

PQ 13.05 A restaurant with one, two, three, or four employees can serve 35, 50, 64, or 75 customers, respectively. The marginal product of the third worker is: Type your numeric answer and submit

How does the average Waste Management annual salary compare with that of Switzerland as a whole country? A) Waste Management between CHF 11,000 and CHF 13,000 less than average B) Waste Management between CHF 9,000 and CHF 11,000 less than average  C) Waste Management between CHF 7,000 and CHF 9,000 less than average D) Waste Management between CHF 5,000 and CHF 7,000 less than average E) Waste Management between CHF 3,000 and CHF 5,000 less than average

A convenience store manager earns a base salary plus a small bonus of $60 for each of ten different possible monthly milestones he meets. If the manager meets a milestone, the full bonus is paid. However, if the manager falls even one penny short, none of that bonus is paid. Suppose each of the ten milestones requires 40 hours of effort to meet, and that the manager has 160 hours of effort to allocate to work each month. In order to maximize the total monthly bonus, the manager should allocate hours toward meeting each of    milestones and hours toward meeting each of the remaining    sales milestones.

According to the Economics Policy Institute (Mishel and Wolfe, 2019) CEO pay has grown 940% since 1978 while the compensation of the average worker has only risen 12%. While you can easily find sources that provide statistics that conflict with these numbers, you would be hard pressed to find any credible source that refutes the idea that the rate of pay of CEO’s and other upper-level managers has not dramatically increased relative to an organization’s lower-level employees in just about any 10 or more year period over the past 60 years. In the world of Adam Smith, the “invisible hand” of the free market capitalistic model would address inequities/out of balances. Are the forces represented by the “invisible hand” working? Why or why not? Is there an ethical dimension to the discussion of upper-level manager compensation? Why or why not? How does (or does it?) levels of pay of upper management impact the rest of us commoners?

Boeing created, and recently expanded, an airplane manufacturing center in Charleston, South Carolina. One of the factors that likely influenced this location decision is that South Carolina is a "right to work" state. This represents a) a place factor related to labor. b) a transportation factor related to the market. c) higher wages for Boeing workers in South Carolina relative to Washington. d) a place factor related to the political environment.

Emily regularly works from 8:00 am to 5:00 pm. Because of an emergency in the workplace, she worked from 8:00 am to 7:00 pm on Christmas day. How much will be her total pay for that day if her daily wage is P400?