2. SPENCE'S LABOR SIGNALING. Suppose there are 2 types of workers, high productivity (H) and low-productivity (L). Each can choose to purchase years of college education, y, but the costs are higher for the L's than the H's. For example, the L's may buy more study guides and hire more tutors, take more time and energy to complete assignments, and otherwise face higher personal costs. Suppose CH[y] = $5,000y and C'[y] = $7,500y. Suppose an employer offers to pay $25,000 to any worker who has a 4-year college degree, but nothing for workers without degrees. Determine how much education each type of worker chooses. In other words, do the math to compute the net-benefit-maximizing education levels y#* and yl*. TIP: You have two cost functions, you know the benefit function is “Pay nothing when y < 4, but pay $25,000 when y 24," and you know each type of worker tries to maximize its net benefits = benefits – costs. TIP: The only two interesting levels of education are y=0 and y=4. а.

= Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,200 tires per day with the following resources: 400 hours per day @ $12.50 per hour 20,000 pounds per day @ $1.00 per pound $5,250 per day $10,250 per day a) Labor productivity per labor hour for these tires = Labor: Raw Material: Energy: Capital: tires/labor hour (round your response to two decimal places). a

Suds and Duds Laundry washed and pressed the followingnumbers of dress shirts per week.Week Work Crew Total Hours Shirts1 Sud and Dud 24 682 Sud and Jud 46 1303 Sud, Dud, and Jud 62 1524 Sud, Dud, and Jud 51 1255 Dud and Jud 45 131a. Calculate the labor productivity ratio for each week.b. Explain the labor productivity pattern exhibited by thedata.

A company that processes fruits and vegetables is able to produce 1000 cases of canned peaches in 8 hours with four workers. Each worker is paid 2 RO per hour. What are the new labor hours, if output remains the same and the productivity in terms of cases/RO increased by 10%. Round to 2 decimal places Select one: a. None is correct b. 2.35 hours c. 5.57 workers • d. 7.27 hours e. 7.82 hours

A work group of 10 workers in a certainmonth produced 7200 units of output working 8hr/day for 22 days in the month. Determine thelabor productivity ratio using (a) units of outputper worker-hour and (b) units of output perworker-month. (c) Suppose that in the nextmonth, the same work group produced 6800units but, there were only 20 workdays in themonth. For each productivity measure in (a)and (b), determine the productivity index forthe next month using the prior month as abase.

1. A small furniture shop that focuses on making kitchen chairs produces 20,000 kitchen chairs annually. The shop is considering purchasing a new sanding machine; the machine will enable the workers to produce 30,000 chairs annually. Should the furniture shop proceed with the purchase of the new machine?   a. Yes, the new machine would increase the labor productivity by 25%. b. Yes, the new machine would increase the labor productivity by 50%. c. No, the new machine would decrease the labor productivity by 50%. d. No, the new machine would increase the labor productivity by 25%.   2. Recently, Samsung released their latest flagship product, the S20. Which of the following best describes this technological development?   a. General Purpose Technology b. New Invention c. Product Innovation d. Process Innovation   3. Moss is a casual video gamer. He is always curious on how do bots work in video games and how are they designed. Bots…

Styles Paragraph The following table shows data on the average number of customers processed by several bank service units each day. The hourly wage rate is $25, the overhead rate is 1.0 times labor cost, and material cost is $5 per customer. (on an excel file with shown formulas) 4a. Compute the labor productivity per worker 4b. Compute multifactor productivity for each unit. (the hours worked is 8 hrs per worker so you will need this to find the MFP) NOTE: Use an eight-hour day for multifactor productivity. Customers Unit Employees Processed/Day 4. B. 5. 8. 09 C. D. 3. DFocus K Accessibility: Unavailable A.

A company that processes fruits and vegetables is able to produce 1000 cases of canned peaches in 8 hours with four workers. Each worker is paid 2 RO per hour. What are the new labor hours, if output remains the same and the productivity in terms of cases/RO increased by 15%. Round to 2 decimal places O a. 7.82 hours O b. 6.96 hours O c. 5.57 workers O d. 2.35 hours Oe. None is correct

Suppose that a car dealership wishes to see if efficiency wages will help improve its salespeople’s productivity. Currently, each salesperson sells an average of one car per day while being paid $20 per hour for an eight-hour day. a. What is the current labor cost per car sold? b. Suppose that when the dealer raises the price of labor to $30 per hour the average number of cars sold by a salesperson increases to two per day. What is now the labor cost per car sold? By how much is it higher or lower than it was before? Has the efficiency of labor expenditures by the firm (cars sold per dollar of wages paid to salespeople) increased or decreased? c. Suppose that if the wage is raised a second time to $40 per hour the number of cars sold rises to an average of 2.5 per day. What is now the labor cost per car sold? d. If the firm’s goal is to maximize the efficiency of its labor expenditures, which of the three hourly salary rates should it use: $20 per hour, $30 per hour, or $40 per hour?…

In December, General Motors produced 6,600 customizedvans at its plant in Detroit. The labor productivity at thisplant is known to have been 0.10 vans per labor-hour during thatmonth. 300 laborers were employed at the plant that month.a) How many hours did the average laborer work that month?b) If productivity can be increased to 0.11 vans per laborhour,how many hours would the average laborer work thatmonth?