Explain the behavior of the workers
Use the economic perspective to explain the behavior of the workers? Why do they work so diligently?
Expert
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.
The expected losses to workers by shirking are increased while a firm adopts a policy of: (1) dividing productive tasks therefore the division of labor is optimal. (2) paying efficiency wages that exceed market-clearing wages. (3) avoiding legal liability from not wri
What is the difference between qualitative data and quantitative data, provide an example of each.
Why are democratic regimes more conducive to economic growth than dictatorship
From the heterodox approach, what options does the enterprise need to produce more output? What effect do these options put on its cost structure?
Illustrate Measuring unemployment?
Elucidate the gains that have occurred using the resources as before specialization?
Why Public or social goods not be produced through the market?
A grocery store chain is considering ways to improve the performance of the waiting lines at their checkout stands. A heavily trafficked checkout stand is monitored for 120 min. In that period, 60 customers have their groceries rung up, and depart from the store. The
Elucidate facilitating factors that explain the growth of trade?
Economic efficiency needs that, relative to the other goods which different individuals might consume, the people who value exact goods relatively the most should own and/or use all goods. Such principle is termed as: (i) economic equity. (ii) allocat
18,76,764
1941674 Asked
3,689
Active Tutors
1427833
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!