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Wewaii [24]
3 years ago
12

What is the hedonic theory of wage differentials? Discuss the characteristics of a normal-profit isoprofit curve. Combine isopro

fit curves with worker indifference curves to explain how two workers with identical stocks of human capital might be paid different wage rates.

Business
1 answer:
Hatshy [7]3 years ago
6 0

Answer:

hedonic Theory of Wages:  

Accept just two kinds of occupations in the work showcase (safe employments versus unsafe occupations). Under this, sheltered employments have likelihood of zero that specialist gets harmed. Unsafe occupations have likelihood of 1 and laborers know this. Laborers care about whether their occupations are sheltered or hazardous.  

Laborers expand utility by picking wage-chance blends that offer them the best measure of utility. Expect laborers disdain hazard, yet to various degrees, for example they have diverse ideal pay chance blends. Firms are on their isoprofit bends that give the hazard wage mixes that give zero (financial) benefit. They vary between firms. An indulgent pay work mirror the connection among wages and occupation qualities. It matches laborers with various hazard inclinations with firms that can give employments that coordinate these diverse hazard inclinations.  

Apathy bends uncover the exchange offs that a laborer favors among wages and level of hazard (chance thought to be an 'awful'). To give a similar utility, dangerous occupations must compensation higher wages than safe employments. The more prominent the laborer's aversion for hazard, the more prominent the pay off required for changing from a safe to an unsafe activity, and the more noteworthy the booking cost. As the pay firms bring to the table for hazardous occupations increments, less firms will extend to dangerous employment opportunities and bringing about a descending slanting interest bend as it turns out to be increasingly productive for firms to make occupations spare than to pay the higher compensation.  

Suppositions of Differential Wage Theory are:  

  1. The compensation differential is sure. Hazardous employments pay more than spare occupations.  
  2. The balance wage differential is that of the last laborer employed (the peripheral specialist). It's anything but a proportion of the normal abhorrence for chance among laborers in the work showcase.  
  3. Along these lines, everything except the minimal specialist are overcompensated by the market.  

On the off chance that a few specialists like to work in dangerous occupations (they are eager to pay for the option to be harmed) and if the interest for such laborers is little, the market repaying differential is negative. At point P, where supply rises to request, laborers utilized in unsafe occupations acquire not as much as laborers utilized in safe employments. The outline given beneath shows the circumstance:  

Isoprofit Curve:  

As it is exorbitant to create well-being, a firm contribution hazard level P* can make the working environment more secure for example move left on flat pivot, just on the off chance that it diminishes compensation while keeping benefits consistent, so that the iso-benefit bend is upward slanting. Higher isoprofit bend returns lower benefit.

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Answer:

B. Target costing forces design engineers to explicitly consider the costs of manufacturing and other aspects of business that traditionally fall outside the engineering department

Explanation:

Target costing needs the design engineers to be active in meeting their customers projection, but it must be inside the target cost requirements. Engineers can not afford to just have their attention on the function and form of design, they must also observe cost under Target costing.

5 0
3 years ago
Professor Foley conducted a cola taste test. Each participant in the experiment first tasted 2 ounces of Coca-Cola, then 2 ounce
aalyn [17]

Answer:

The three brand are famous soft drink brands utilized by individuals. It very well may be somewhat muddled for deciding the favored taste of the buyers. This exploratory plan is flawed as a result of the potential issues engaged with it. The test here is that the members may not give an exact rating. They may rate it the equivalent. There is an issue with this trial as one of the soft drinks going level may affect the rating of the members. As indicated by Malhotra (2010) the most widely recognized strategy utilized for testing is combined correlation. This can be utilized by the members for successful examination.  

The perplexing variable in the investigation incorporates the measure of time that went between the tasting of various soft drinks. The temperature of the soft drink additionally indicates the inclination of the members.  

The measure of time that has gone since the members had the beverage likewise chooses their inclination level.  

I would utilize correlation strategy wherein irregular examining will be picked. The refrigerated soft drinks will be given. A sense of taste chemical will be given after each drink to clean their taste. This will incorporate in excess of five preliminaries for effectiveness.

7 0
3 years ago
Question:
soldier1979 [14.2K]

Answer: its environmental scientist

Explanation:

4 0
2 years ago
You get a sales report every month to show the products sold from each state. You notice the sales from California are down from
Lostsunrise [7]

Answer: This is an example of a DRILL DOWN report

Explanation:

Drill down means to seek out detailed additional information on a specific subject. It involves clicking on a subject, or link or object to reveal more detail about a particular information.

To drill down through a series of information means you want to get a specific information, it involves accessing information but starting first with the general options before proceeding through the database to get successive ideas on the subject matter. Most times people drill down on an information when they have only the summary, then they will "dig Futher" to get suitable information according to their logic.

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3 years ago
Find the amount of money accrued at the end of 5 years when $5000 is deposited in a savings account drawing 5 1 4 % annual inter
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Answer:

$6,424 .06

Explanation:

Present value (PV): $5,000

Rate: 5.14% per annual

Tenor: 5 years

The amount of money accrued at the end of 5 years is the future value (FV) of investment

FV = PV * (1+rate)^tenor

= $5,000 *(1+5.14%)^5

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