Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506725
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Chapter 25, Problem 6CQ
To determine
Explain the reason why it is difficult to find the required number of math and science teachers.
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The maximum number of workers that a firm would hire is
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Chapter 25 Solutions
Economics: Private and Public Choice (MindTap Course List)
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- How can stages of production be used to determine the most profitable number of workers to hirearrow_forwardSalary Employee Salaried employees are employees that are paid a fixed or set amount of money each year. They may be paid weekly, bi-weekly or monthly. Salary employees are often referred to as "exempt employees! For example, their compensation plan may read as '$45,000 per year'. It means that if they work extra hours, they are not paid for it. So overtime is not a "thing". It is just part of their job. Teachers are paid to work from September through to the end of June, and are only paid for 6.5 hours a day, according to their contract. However, most teachers spend 8-12 hours a day working, and they work through the March break and Christmas break getting caught up with marking. In the summer they take training courses. They still only get paid for the 6.5 hours a day, at the annual salary. This is a salary job. The benefit is stability and consistency. You know your income, you know if things get busy, you need to work extra, and if it slows down, you still get paid. Challenge…arrow_forwardCindy is a baker and runs a large cupcake shop. She has already hired 11 employees and is thinking of hiring a 12th. Cindy estimates that a 12th worker would cost her $100 per day in wages and benefits while increasing her total revenue from $2,600 per day to $2,750 per day. Should Cindy hire a 12th worker? a. Yes. b. No. c. You need more information to figure this out.arrow_forward
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- information on the minimum wage act in jamaica and when was it implemented and what penalties employer face if there is a breach of the act.arrow_forward“Managing pay in organisations is easy. You simply pay each person the going rate for doing their job.” To what extent do you agree with this view? Justify your answerarrow_forwardA carpenter quits his job at a furniture factory to open his own cabinetmaking business. In his first two years of operation, his sales average $100 000 per year and his operating costs for wood, workshop and tool rental, utilities, and miscellaneous expenses average $70 000 per year. Now his old job at the furniture factory is again available. What is the lowest wage at which he should decide to return to his old job? Why?arrow_forward
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