Answer:
Firms may be inclined to keep their workers’ wages above the equilibrium level.
Explanation:
The efficiency wage theory states that if an employer increases the wage of his/her employees, they will be motivated and their productivity will increase. The increase in productivity should offset the increased labor costs. So the costs of higher wages should be recouped through increased productivity. Higher wages also reduce worker turnover, reducing hiring and training costs.
Answer:
7,000 pounds
Explanation:
Data provided in the question:
Shrimps Bubba catches per year = 4,000 pounds
Shrimps that Bobby can catch per year = 3,000 pounds
Therefore,
The marginal contribution of Bobby in the output if Bobby is hired is 3,000 pounds of shrimp
Hence,
The total output of his shrimp business is Bubba hires Bobby will be
= Output of Bubba per year + Output of Bobby per year
= 4,000 pounds + 3,000 pounds
= 7,000 pounds
Answer:
reduces; geographic diversification
Explanation:
In the above problem, the proposed new branch will economics reduces overall risk exposure and produce a geographic diversification effect.
Answer:
Considering only limited alternatives.
Explanation:
There are six sub-types to cognitive barriers: unwillingness to see one’s needs as information needs, inability to articulate one’s information needs, unawareness of information sources, low self-efficacy, poor search skills and inability to deal with information overload.
