You need to hire some new employees to staff your startup venture. You know that potential employees are distributed throughout the population as follows, but you can't distinguish among them: Employee Value Probability $40,000 0.1 $53,000 0.1 $66,000 0.1 $79,000 0.1 $92,000 0.1 $105,000 0.1 $118,000 0.1 $131,000 0.1 $144.000 0.1 $157,000 0.1 The expected value of hiring one employee is $_ Suppose you set the salary of the position equal to the expected value of an employee. Assume that employees will not work for a salary below their employee value. The expected value of an employee who would apply for the position, at this salary, is $_. Given this adverse selection, your most reasonable salary offer (that ensures you do not lose money) is

Give examples of possible employee benefits

Contribution of market structure and profit maximizing behavior to managerial decision making

Functional resumes ◇ Another opportunity to sell yourself that only 10 percent of applicants ever send A business that can assist you in writing resumes but that charges you for its services ○ A worksheet to help you organize your experiences, skills, and abilities to help you in future written work O Should state what job you're applying for and how you found out about the job OA quality written summary of your experiences and qualifications listed by time OA collection of letters, resumes, and applications that reflects on you and the quality of your work O Sent with a resume, giving you another chance to emphasize skills and positive personal traits O The last paragraph of a letter of application OA quality written summary of your qualifications organized by skills/abilities An official document that becomes part of your official file

Please no written by hand solutions You need to hire some new employees to staff your startup venture. You know that potential employees are distributed throughout the population as follows, but you can't distinguish among them: Employee ValueProbability$55,0000.1$64,0000.1$73,0000.1$82,0000.1$91,0000.1$100,0000.1$109,0000.1$118,0000.1$127,0000.1$136,0000.1 The expected value of hiring one employee is ? Suppose you set the salary of the position equal to the expected value of an employee. Assume that employees will not work for a salary below their employee value. The expected value of an employee who would apply for the position, at this salary, is ? Given this adverse selection, your most reasonable salary offer (that ensures you do not lose money) is ? .

Health and safety regulations in the labor market Multiple Choice O O are always efficient because they improve working conditions. should be evaluated by comparing their costs to their benefits. can lead to an increase in frictional unemployment. Saved are necessarily inefficient if they impose additional costs on employers.

Labor Market Data Price $5 $10 $15 $20 $25 Qs 1,000,000 3,000,000 5,000,000 7.000.000 9,000,000 Qd 9,000,000 7,000,000 5,000,000 3,000,000 1,000,000 Price $30 $25 $20 $15 。 $10 $5 I 0 I 1 I I I T I I I I N I 1 I I -Y- 1 J Im 3 I " 2₂ Y J I I J I I T A J 7 I I I -t T 5 Quantity (In millions) Area of a triangle = 1/2 * base* height Market Efficiency & Total Surplus J 9 Do Worth Publishers SCENARIO: The state government is considering raising the minimum wage from $15 per hour to $20 per hour over the next 3 years. As an economic advisor to the governor, you have been asked to provide a recommendation on whether the minimum wage should be increased based on economic theory. Consider the labor market data provided. Prepare a brief report that: 1. Explains whether the labor market is currently efficient at the equilibrium wage of $15 per hour. How would you know? At equilibrium, what (dollar amount) is the Total Surplus this market provides? Show your rationale with numbers. 2. Analyzes the…

An understanding of all of the following can help managers more effectively interact with colleanues, peers and co workers except profit maximization Obgroup dynamics O organizational culture caIndividual differences

Factor income is an earning concept True/False

How many employees does Max's Group Inc. have as of now?