--%>
Assignment Help - homework help

Explain the behavior of the workers

Use the economic perspective to explain the behavior of the workers?  Why do they work so diligently?

E

Expert

Verified

Workers at the fast-food restaurant are also engaging in rational behaviour attempting to achieve maximum fulfillment of their goals.  Every worker is considered the opportunity cost of being in the restaurant rather than participating in the activity that is perceived as the next best alternative (say, cruising around in their cars).

The diligence observed is a function of their desire to maintain employment and the marginal benefit they receive from another day’s pay.  Most among them quit their jobs after high school graduation because they receive more highly valued offers for the use of their time.

   Related Questions in Business Economics

  • Q : Wealth of Nations academic

    By the perspective of nowadays academic standards, Adam Smith must have more evidently acknowledged that several the analyses and insights for that he took credit within his Wealth of Nations had really been gleaned from the writings

    		•
  • Q : Reciprocal Trade Agreements Act had

    How Reciprocal Trade Agreements Act had goal of reducing tariffs?

    		•
  • Q : Public policies for low-income Fuel

    Fuel stamp programs which subsidize heating oil purchases through low-income households encourage those families to: (w) create more income by working. (x) particularly conserve on their use of fuel. (y) live along with less purchasing power. (z) subs

    		•
  • Q : Guideline for monetary policy using

    Question: In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables? Answer: <

    		•
  • Q : Need of the Economic Efficiency

    Economic efficiency for society needs which the: (i) opportunity costs of all goods be at their lowest possible values. (ii) maximum probable benefits are acquired for given costs. (iii) greatest possible net benefits are squeezed through available re

    		•
  • Q : Define Operating income approach

    Describe briefly Operating income approach?

    		•
  • Q : The market system provides such a

    Explain the statements: The market system provides such a variety of desired goods and services precisely.

    		•
  • Q : Recycling center Suppose you go to a

    Suppose you go to a recycling center and are paid 25 cents per pound for your aluminum cans.  However, the recycler charges you $.20 per bundle to accept your old newspapers.

    		•
  • Q : Price charges of firm in perfectly

    Assume that the equilibrium price within a perfectly competitive industry is $15 and a firm into the industry charges $21 there. Which of the given will occur: w) the firm's profits will rise. x) The firm's revenue will rise. y) The firm will not sell

    		•
  • Q : Relation of increased productivity by

    Discussion of a pin factory by Adam Smith focused upon the increased productivity related along with: (w) free international trade as per absolute advantage. (x) specialization and the division of labor. (y) free international trade as per comparative advantage. (z) certainty abo

    		•