1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
Having a _____ normally means you are just clocking in and out. When you have a _____, you are required to manage time well and
givi [52]
The answer is D: job/career
5 0
3 years ago
Read 2 more answers
Suppose that Jack and Sophia and Hal enter into an agreement for the sale of the business without the non-competition agreement.
natta225 [31]

Answer:

The answer is: C) If Jack does not accept the $100,000, there is a valid contract for the sale of the business, without a non-competition clause.

Explanation:

Non competition clause (NCC) is a legal contract that binds one party to not work for or start a rival company (in the same trade) that will compete against the other party.

In this case, Jack said he would probably agree to sign a NCC if they paid him $100,000 more, but he never said he would sign for sure the NCC. So Jack can refuse to sign the NCC and reject the extra $100,000. The selling contract would still be valid, it was never stated that if no NCC was signed, then the contract would be dismissed.  

7 0
3 years ago
according to Tuckman's five-stage model of group and team development, what is the second stage in the process?
dsp73

Answer: The second stage is the "Storming Stage"

Explanation:

Bruce Tuckman's five-stage model of group and team development, propounded in 1965, consists of the forming, storming, norming, performing and adjourning stages.

The second stage, storming, is the most difficult and crucial stage in team development process, especially for a team that has never been together. At this stage, there's usually conflict of interests and members of the team may form "cliques" based on common grounds of agreement.

Performance of the team may decrease because members could begin to disagree on team goals and individual personalities emerge.

A solution would be for the team members to accept one another's individuality and focus on the task at hand.

4 0
3 years ago
Bertone's Office Supplies has large stores resembling warehouse environments, with racks stocked from floor to ceiling with diff
evablogger [386]

Answer:

The correct answer to the following question is category specialist.

Explanation:

Here Bertone's office supplies can be said as category specialist stores, these are those discount stores which specializes in particular product category. That's why these stores are also called discount specialist stores. The reason why these stores are able to offer low prices is because they are using their buying power to negotiate the terms and conditions like getting the supply at low prices.

4 0
3 years ago
Listeners offer prompts to their speaker by _____.
alexira [117]

Answer:

In any duel between a speaker and listener, it's always easy to fault the other person and it will begin with you. You can set the proper tone. Remember to take notes if you can.

Explanation:

Listen to what I'm saying and you will be good at it.

4 0
4 years ago
Other questions:
  • When the excess capacity of business expands unintentionally, aggregate: demand will increase supply will decrease?
    8·1 answer
  • Increasing returns would be a situation where a firm increases its workforce and other inputs by:
    12·1 answer
  • Job satisfaction can be lost for all of the following reasons EXCEPT:
    13·1 answer
  • If a company purchases equipment costing $4,500 on credit, the effect on the accounting equation would be: Multiple Choice Asset
    9·1 answer
  • Costs and benefits must be put in common terms if they are to be compared.
    6·1 answer
  • What happens to the matter and energy in fossil fuels when the fuels are burned? Help
    9·1 answer
  • Why has America been referred to as " the land of opportunity"?
    13·2 answers
  • ) Using the following information, what is the amount of cost of merchandise sold?
    11·1 answer
  • E16-4. On January 1.2013, when its $30 par value common stock was selling for $80 per share, Plato Corp. issued $10,000,000 of 8
    5·2 answers
  • Revenue management methodology can be applied in the case of nonperishable assets.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!