Description 1) Suppliers of high-quality goods and services can overcome adverse selection problems through a variety of strategies such as warranties, attainment of educational credentials, or licensing. Such strategies are known as a. incentive systems b. reputational effects c. anti-lemon strategies d. market signaling strategies e. inefficient credibility expenditures 1) Asymmetric information An employer seeking to structure employee incentive systems in such a manner as to induce optimal work effort from employees whose actions cannot be perfectly observed must a. Avoid situations that generate a “separating” equilibrium by making sure that incentive systems send the proper market signals to employees. b. Structure incentive systems that satisfy a “participation” constraint and an “incentive compatibility” constraint. c. Prevent moral hazard by educating all employees about the “incentive compatibility” features of their compensation plan. d. Hire only workers whose marginal productivity is above average. e. Carefully check all employee credentials prior to hiring them.
Description Select an organization with which you are familiar or an organization where you work. Develop a 15- to 20-slide Microsoft® PowerPoint® presentation to be presented to the CEO's executive committee that addresses how your chosen organization determines what quantity of labor to demand and what events could shift the demand and supply of that labor. Explain the following in your presentation: How your organization's production function is related to its marginal product of labor. How your organization's marginal product of labor is related to the value of its marginal product. How your organization's marginal product is related to its demand for labor Examples of events that could shift the demand or supply of labor and why they do so. Reasons a worker's wages might be above the level that balances supply and demand. An analysis of the impact that government policies addressing income inequity and poverty could have on labor demand or supply. Cite a minimum of three peer-reviewed sources not including your textbook. Format your presentation consistent with APA guidelines.
Description Details: Write an essay 1,000-1,250 words regarding the impact of Economic policy on the Market. Include the following: Choose three government policies that were implemented since the 1970’s to remedy an economic crisis. Evaluate the policies’ effectiveness. Explain how the Keynesian model of economics was applied to the economic crises of the 1970’s. Was it effective? Explain. Explain how government creates demand to correct market failure in order to address welfare policies. Provide an example and explain your rationale. Be sure to cite at least three relevant scholarly sources in support of your content. These sources can include trade journals and think tank reports. Use only sources found at the GCU Library or those provided in Topic Materials. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. You are required to submit this assignment to Turnitin. Refer to the directions in the Student Success Center.
Description Deliverable Length: 1,200–2,000 words, including research in essay format Lester Scholl's administrative assistant calls you on Monday afternoon to set up a conference call between you and the chairman tomorrow morning to discuss the board's reaction to your list and to discuss your next task. You call the number she gave you, and Lester joins the call shortly after. "I'm pleased with your work," he says. The board was impressed with your list of factors. Your ranking made sense because your explanations were well-written. I suspect they read everything you sent because it was concise and clear. Good job." "Thanks," you say, and you feel relieved that your first assignment was well-received. "Your list provided the basis for a good conversation about the manufacturing operations," he says. "We want to know more about the economy of both countries to further inform our decision-making process." "That makes sense," you say. "The United States and South Korea hold many distinct economic factors that may affect AutoEdge’s long-term financial performance." "Right," he says. "Your research on the two economies will give the board enough information so we can advise the new, incoming CEO." "What should my research include?" you ask. "In your research, you must take into consideration several macroeconomic factors," he says. "We want to see information about the gross domestic product (GDP), unemployment, interest rates, and inflation for both the United States and South Korea. Make sure your research is current; that is, no more than 6 months old." "I'll get started right away," you say. "Very good," he says. "Let me know if you have any questions, and I'll put you in touch with some of the other members of the board if I can't provide the answers you need." "Great," you say. "Thank you."
Description Please, read the whole assignment before beginning. You will choose one world issue today and you will invent or innovate a solution to that problem. Think about what you learned of entrepreneurs earlier in this course of how they bring products and services to the market to solve problems; and now you will apply your knowledge of entrepreneurship to solve a worldly issue. There needs to be some planning into your product or service and who it would directly benefit. Here are some steps in inventing your product or service: Brainstorm: Focus on one worldly problem and generate ideas that you think will help solving them. Remember, your idea should be useful to real world issues and/or the people that it affects. Make a list of the top ideas and ways that it could improve the situation. How can your invention benefit or improve others lives. Narrow it down to one idea that you will use as your invention to solve the problem. Research your invention to find out if it is unique. Create a chart or infographic that illustrates the invention and three detailed ways that it solves a worldly issue. You may use a table in microsoft word or within your course to create your chart. Then, you will write about it in a 400-600 word paper. If you feel your idea would be very effective, you can research how to patent or trademark it with the U.S Patent source below. Research global issues here or choose another source of your own: The United Nations Global Issues : http://www.un.org/en/globalissues/ U.S. Patents and Trade Office : http://www.uspto.gov
Description Compare and contrast two events motivated by incentives, one where the self-interested behavior was good for society and the other where it was bad.
Description Please complete the following two applied problems: Problem 1: Jessica Alba, a famous actress, starts the baby and family products business, The Honest Company, with Christopher Gavigan. Alba and Gavigan set up their site so families can choose what kinds of non-toxic, all-natural products they'd like to use and get them in a bundle. Families can choose all kinds of products from food to hygiene necessities and cleaning supplies. Suppose they are thinking of expanding their business into five domestic markets: Phoenix, Dallas, Chicago, New York, and Atlanta. Assume their primary goal of business is to maximize economic profits, although they want to do business honestly. Show all your calculations and process. Describe your answer for each question in three- to five-complete sentences. You are a business adviser for Alba and Gavigan. Describe a skimming price and a penetration price, and advise them whether they should charge a skimming price or a penetration price, with supportive reasoning for and against each pricing alternative. Are they likely to make economic profits initially? Can they continue to make economic profits in the long term? Why or why not? Discuss. What advice would you give to Alba and Gavigan to help them make more profit in the long term? Problem 2: You operate your own small building company and have decided to bid on a government contract to build a pedestrian walkway in a national park during the coming winter. The walkway is to be of standard government design and should involve no unexpected costs. Your present capacity utilization rate is moderate and allows sufficient scope to understand this contract, if you win it. You calculate your incremental costs to be $268,000 and your fully allocated costs to be $440,000. Your usual practice is to add between 60% and 80% to your incremental costs, depending on capacity utilization rate and other factors. You expect three other firms to also bid on this contract, and you have assembled the following competitor intelligence about those companies. Issue Rival A Rival B Rival C Capacity Utilization At full capacity Moderate Very low Goodwill Considerations Very concerned Moderately concerned Not concerned Production Facilities Small and inefficient plant Medium sized and efficient plant Large and very efficient plant Previous Bidding Pattern Incremental cost plus 35-50% Full cost plus 8-12% Full cost plus 10-15% Cost Structure Incremental costs exceed yours by about 10% Similar cost structure to yours Incremental costs 20% lower but full costs are similar to yours Aesthetic Factors Does not like winter jobs or dirty jobs Does not like messy or inconvenient jobs Likes projects where it can show its creativity Political Factors Decision maker is a relative of the buyer Decision maker is seeking a new job Decision maker is looking for a promotion Show all of your calculations and processes. Describe your answers in three- to five-complete sentences. What price would you bid if you must win the project? What price would you bid if you want to maximize the expected value of the contribution from this contract? Defend your answers with discussion, making any assumptions you feel are reasonable and/or are supported by the information provided
